Wilkenson Inc. has the following information available for November:Date Units Cost per Unit Total Cost Nov 1Beginning Inventory70$50$3500Nov 5 Purchase30$601800Nov 14Sale(60) Nov 25Purchase60$523120Nov 30Sale (80) Total20$1628420Compute the cost of goods sold and the cost of ending inventory, respectively, assuming the perpetual weighted-average method. DescriptionPerpetual-Weighted AverageCOGS Cost of Ending Inventory

Inventory valuation method includes: FIFO Method LIFO Method Weighted Average method FIFO Method-…

Answered: Wilkenson Inc. has the following…

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter7: Inventories

Section: Chapter Questions

Problem 1PEA: The following three identical units of Item BZ1810 are purchased during November: Assume that one...

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Wilkenson Inc. has the following information available for November:

Date		Units	Cost per Unit	Total Cost
Nov 1	Beginning Inventory	70	$50	$3500
Nov 5	Purchase	30	$60	1800
Nov 14	Sale	(60)
Nov 25	Purchase	60	$52	3120
Nov 30	Sale	(80)
	Total	20	$162	8420

Compute the cost of goods sold and the cost of ending inventory, respectively, assuming the perpetual weighted-average method.

Description	Perpetual-Weighted Average
COGS
Cost of Ending Inventory

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