Your firm values inventory using the weighted average cost method. At 1 October 20X8, there were 60 units in inventory valued at $12 each. On 8 October, 40 units were purchased for $15 each, and a further 50 units were purchased for $18 each on 14 October. On 21 October, 75 units were sold for $1,200. What was the value of closing inventory at 31 October 20X8? $ O
【参考答案及解析】
Date Units Unit Inventory value value 1 October Opening inventory 60 720 8 October Purchase 40 units at $15 40 600 14 October Purchase 50 units at $18 50 900 21 October Sold 75 units: cost (75) 14.80 (1,110) 31 October Closing inventory 75 14.80 1,110
Date Units Unit Inventory value value 1 October Opening inventory 60 720 8 October Purchase 40 units at $15 40 600 14 October Purchase 50 units at $18 50 900 21 October Sold 75 units: cost (75) 14.80 (1,110) 31 October Closing inventory 75 14.80 1,110