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Eddi Din [679]
2 years ago
14

Vaughn Company's inventory records show the following data: Units Unit Cost Inventory, January 1 11000 $8.80 Purchases: June 18

5000 8.00 November 8 4000 6.00 A physical inventory on December 31 shows 3500 units on hand. Vaughn sells the units for $14 each. The company has an effective tax rate of 18%. Vaughn uses the periodic inventory method. The weighted-average cost per unit is
Business
1 answer:
blsea [12.9K]2 years ago
3 0

Answer:

Vaughn Company

The weighted-average cost per unit is

= $8.04

Explanation:

a) Data and Calculations:

                                  Units    Unit Cost  Total

Inventory, January 1 11,000    $8.80     $96,800

Purchases: June 18  5,000      8.00       40,000

November 8             4,000      6.00       24,000

Total                       20,000                 $160,800

The weighted-average cost per unit = $8.04 ($160,800/20,000)

b) The weighted average method of recording inventory adds up the total units and costs of beginning and current period purchased or manufactured inventory.  The total costs are divided by the total units to obtain the weighted-average cost per unit.

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