Question

nventory records for Water Incorporated revealed the following: Date Transaction Number of Units Unit Cost July 1 Beginning inventory 520 $ 2.48 July 25 Purchase 330 2.67 Water Inc. sold 630 units of inventory during the month. Ending inventory assuming weighted-average cost would be: (Round weighted-average unit cost to 4 decimal places and final answer to the nearest dollar amount.)

Answer 1

Answer:

$562

Explanation:

Date     Transaction                   Units          Unit Cost         Total

July 1    Beginning inventory     520              $2.48             $1,289.60

July 25 Purchase                       330              $2.67             $881.10      

subtotal                                      850             $2.554           $2,171

            Sales                              630            $2.554           $1,609.09

July 31  Ending inventory          220            $2.554           $561.91

July 31's ending inventory = 220 units at $2.554 per unit, total cost $561.91