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 · 3 answers · asked by Anonymous in Science & Mathematics ➔ Mathematics
34,055 is wrong, because all the numbers ends with a 0, when you add them it cant become a 5 .
that argument is enough to write down 34060 as answer , maybe it is not the correct answer but at least it is better than the answer in the book, because of the argument i gave you.
maybe the book multiplied date with price, instead of quantity with price.
2007-10-05 10:09:04 · answer #1 · answered by gjmb1960 7 · 1⤊ 0⤋
well, with the numbers you've posted, you seem to be right. so perhaps you should make sure that the posted numbers are correct
2007-10-05 17:08:35 · answer #2 · answered by li 2 · 0⤊ 0⤋
dont worry, the books can be worng
mones wrong like 20% of the time!!!!!!!!!!!!!!!!!!
2007-10-05 17:05:14 · answer #3 · answered by penguin ♥lover♥ #1 3 · 0⤊ 0⤋