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 .

1 year ago - 1 answers

Best Answer

Chosen by Asker

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

1 year ago