A company uses a periodic inventory system. On April 1, the company had 9 items of beginning inventory with a cost of $13 per unit. On April 18, the company purchased 15 units at $14 per unit. Then, on April 29, the company sold 14 units. Using weighted average, the cost of the 14 units sold is closest to .

$190.75

Explanation:

In this question, we are asked to use weighted average method to find the cost to which the 14 units sold is closest to.

We proceed as follows;

On April one, there were 9 items in the inventory with a cost of $13 per item. The total cost here would be 13 * 9 = $117

On April 18th, we had 15 items at $14 cost per piece which gives a total of 14 * 15 = $210

On April 29, 14 units were sold. We need to find the cost to which this was closest using the weighted cost approach.

The total costs for April 1 and 18 would be $117+ $210 = $327

The weighted average cost per unit on both dates is $327/24 = $13.625

The cost of 14 units sold would be = 14 * $13.625 = $190.75

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explanation:

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