So I am coming $5 off on my weighted average. I have recalculated it several times got to $1 off then $10 off....I am hoping someone can look at this and see what I did wrong....
Jan. 1 Beg. Inventory 600 @ $44 I calculate $26,400
Feb. 10 Purchased 100 @ $20 I calculate $ 2,000
March 13 Purchased 100 @ $20 I calculate $2000
Mar 15 sold 400 @ $75 I calculate $30,000
Aug. 21 purchased 160 @ $60 I calculate $9600
Sep. 5 purchased 280 @ $48 I calculate 13,440
Sep. 10 sold 200 @ $75 I calculate $15,000
My ending inventory balance is $34,060 and the book says it should be $34,055....
I am off $5 somewhere, everytime I change my calculations I come up with a different balance but never what the book states it should be...Please help
2007-10-05
10:01:42
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3 answers
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asked by
Anonymous