Raptor Candles has the following inventory schedule for its luxury line of candles. Quantity Unit Cost Sales Price (per unit) Date Purchase 3/1 500 $15.00 Purchase 3/6 750 $17.50 Sale 3/10 800 Purchase 3/19 1400 $21.50 Sale 3/24 1500 $50 $50 Assuming the company uses Weighted Average Cost method, what is the weighted average cost for the inventory at the end of the month? Round to the nearest cent. Weighted Average Cost at the end of the month: $[WAC)

Raptor Candles has the following inventory schedule for its luxury line of candles. Quantity Unit Cost Sales Price (per unit) Date Purchase 3/1 500 $15.00 Purchase 3/6 750 $17.50 Sale 3/10 800 Purchase 3/19 1400 $21.50 Sale 3/24 1500 $50 $50 Assuming the company uses Weighted Average Cost method, what is the weighted average cost for the inventory at the end of the month? Round to the nearest cent. Weighted Average Cost at the end of the month: $[WAC)

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 4PEA: Beginning inventory, purchases, and sales for 30xT are as follows: Assuming a perpetual inventory...

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