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Bizhelp
Bizhelp, Accountant
Category: Business and Finance Homework
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Experience:  BA degree and Certified Public Accountant
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Acme- corporation uses a weighted- average perpetual inventory

Resolved Question:

Acme- corporation uses a weighted- average perpetual inventory system.

Aug. 2, 10 units were purchased at $12 per unit.
Aug. 18 15 units were purchased at $14 per unit.
Aug. 29 12 units were sold.

Was was the amount of the cost of goods sold for this sale?

A. $148.00
b. $150.50
c. $210.00
d. 330.00
Submitted: 4 years ago.
Category: Business and Finance Homework
Expert:  Bizhelp replied 4 years ago.
Hi,

Thanks for requesting me.

I get $158.40 as the correct answer. This is not one of the choices. Is there an answer e) $158.40 that got cut off, maybe? If not, please check the data of the problem you typed above.

(10 units x $12) + (15 units x $14) / (10+15 units) = $120+210/25 = $330/25 = $13.20 weighted average cost per unit

$13.20 average cost x 12 units sold = $158.40 cost of goods sold

Hope this helps!


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