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Jammer Company uses a perpetual weighted average inventory system and reports the following: August 2 Purchase 17 units at $15.00 per unit. August 18 Purchase 19 units at $13.00 per unit. August 29 Sale 34 units. August 31 Purchase 22 units at $18.00 per unit. What is the per-unit value of ending inventory on August 31?

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Answer:

Weighted-average ending inventory cost= $17.75

Explanation:

First, we need to calculate the total cost of ending inventory:

August 2= 17*15= 255

August 18= 19*13= 247

August 29= (19*13 + 15*15)= (472)

August 31= 22*18= 396

Total ending inventory= $426

Now, the weighted average cost per unit of ending inventory:

Ending inventory in units= 24

Weighted-average ending inventory cost= (426/24)

Weighted-average ending inventory cost= $17.75

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