Jammer company uses a weighted average perpetual inventory system and reports the following:

Asked by maham237 @ 22/12/2020 in Business viewed by 399 People

Jammer Company uses a weighted average perpetual inventory system and reports the following: August 2 Purchase 10 units at $12 per unit. August 18 Purchase 15 units at $15 per unit. August 29 Sale 20 units. August 31 Purchase 14 units at $16 per unit. What is the per-unit value of ending inventory on August 31

Answered by maham237 @ 22/12/2020

Answer:

The per-unit value of ending inventory on August 31= $15.42

Explanation:

The weighted average method of inventory determines the average cost per unit of inventory each time a new batch is received The explanation is completed using the table below with notes underneath

The

Date Narration Qty Unit cost($) Total cost

Aug 2 Purchase 10 12 120

Aug 18 Purchase 15 15 225

25 13.8 * 345

Aug 29 ( 20) 13.8 (276
)

5 69

Aug 31 14 16 224

Aug 31 19 15.42 ** 293

Notes

*The average cost of 13.8 is the division of 345 by 25.

**The average cost of $15.42 is the division of 293 by 19

The per-unit value of ending inventory on August 31= $15.42

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Asked by maham237 @ 13/01/2021 in Business viewed by 2744 persons

Jammer company uses a weighted average perpetual inventory system and reports the following:

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