Consider the following inventory transactions for September:
$\begin{array}{lll}
\text { Beginning inventory } & 15 \text { units @ \$3.00 } \
\text { Purchase on September 12 } & 20 \text { units @ \$3.50 } \
\text { Purchased on September 23 } & 10 \text { units @ \$4.00 }
\end{array}$
For the month of September,the company sold 35 units.What is the cost of good sold under the weighted-average cost method (round the weighted-average unit cost to four decimals if necessary)?

Question

Consider the following inventory transactions for September: 
$\begin{array}{lll}
\text { Beginning inventory } & 15 \text { units @ \$3.00 } \
\text { Purchase on September 12 } & 20 \text { units @ \$3.50 } \
\text { Purchased on September 23 } & 10 \text { units @ \$4.00 }
\end{array}$
For the month of September,the company sold 35 units.What is the cost of good sold under the weighted-average cost method (round the weighted-average unit cost to four decimals if necessary)?

Quizplus · Accepted Answer

Weighted-average unit cost = (15 x $3.00 + 20 x $3.50 + 10 x $4.00) / (15 + 20 + 10) = $3.40Cost of goods sold = 35 units x $3.40 = $119

Consider the Following Inventory Transactions for September For the Month of September,the Company Sold 35 Units