Question

Time Table specializes in designer watches and leather goods. Time Table uses the perpetual inventory system. Assume Time Table began June holding 88 wristwatches that cost $66 each. During June, Time Table bought and sold inventory as follows: (Click the icon to view the transactions.) Read the requirements. Weighted-Average: Purchases Inventory on Hand Unit Cost Total Cost Cost of Goods Sold Unit Total Quantity Cost Cost Date Quantity Quantity Unit Cost 66 66 Total Cost 5,808 3,300 Jun. 1 38 66 | 2,508 16 70|| 78|| 5,460 | 23 60 Intole - 701 5460 98 Choose from any list or enter any number in the input fields and then continue to the next question, . : Type here to search e A 6 12:19 PM 11/24/2019

Answer 1

Purchases Qty 1 Cost per unit Cost of Goods Sold Cost per unit Cost of goods sold Qty Qty Weighted Ave Date 01-Jun 03-Jun 16-Jun 1 38 @ $ 66.00 = $ 2,508 70 @ $ 78.00 Inventory on Hand Cost per unit $ 66.00 = $ 66.00 = $ 66.00 = $ 78.00 = $ 73.00 $ 73.00 = $ 73.00 = Inventory $ 5,808.00 $ 3,300.00 $ 3,300.00 $ 5,460.00 $ 8,760.00 $ 4,380.00 $ 4,380.00 @ 120 60 @ 60 @ Average cost = Total inventory $ 8,760 / Total units 120 60 @ $ 73.00 = $ 4,380 6,888.00 23-Jun 70 98