Question

Fill Out All White Blanks Below Requirement 4. Prepare a perpetual inventary record using average cost. Round average cost per unit to the nearest cent and all other amounts to the nearest dollar Start by entering the opening inventory balance. Enter the transactions in chronological order, calculating new inventory on hand balances ater each transaction. Once all of the transactions have been entered into the perpetual record, calculate the quantity and total cost of inventory purchased, sold, and on hand at the end of the period (Round average cost per unit to the nearest cent and al other amounts to the nearest dollar) X i - Data Table Purchases Unit Total Cost Cost Cost of goods sold Total y Cost Cost Inventory on hand Unit Total OtyC on Cost Date Cty War 701 1750 Quantity Unit Cost Date Item Mar 1 Balance Mar 4 30 72 2 160 4 Purchase 21 22 31 37 IMar Mer Mar Total 74 12 Sale 22 Purchase 31 Sale 6 48985B

Answer 1

Qty Unit Cost total Cost Qty Perpetual :Average Cost Unit Date Qty Cost total Cost Mar-01 Mar-04 30 72.00 2160 Mar-12 Mar-22 37 74.00 2738 Mar-31 Totals 67 4 898 38 71.09 2701 Unit Cost total Cost 70.00 1750 71.091 3910 17 71.09 1209 54 73.08 3947 34 73.08 2485 2485 73.08 20 58 1462 4163.02 34