Question
Ending inventory using weighted average ?
beg inventory 320 @ 6.00
purchase 85 @ 6.40
purchase 110 @ 6.60
ending inventory 155
and its based on a perpetual inventory system and weighted avg .
Best Answer
Units available for sale = (320 + 85 + 110) = 515
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Cost of available goods
= (320 * $ 6.00) + (85 * $ 6.40) + (110 * $ 6.60)
= $ 1,920.00 + $ 544.00 + $ 726.00
= $ 3,190.00
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Weighted average cost per unit = ( $ 3,190.00 / 515 ) = $ 6.194
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Ending inventory = (155 * $ 6.194) = $ 960.07



