Mathematics · Inventory Valuation
Using the continuous (perpetual) weighted average cost method to value closing inventory, what is the value of the cost of sales for April based upon the following information? 1 Apr - Opening inventory 4 units at a cost of $4.00 per unit 12 Apr - Purchased 10 units at a cost of $5.00 per unit 15 Apr - Sold 6 units at a price of $8.00 per unit 17 Apr - Purchased 10 units at a cost of $6.00 per unit 25 Apr - Sold 8 units at a price of $8.50 per unit
- 1$76.00
- 2$74.50
- 3$71.79✓
- 4$70.25
Correct answer
$71.79
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