Céramiques Ondaine resells earthenware tiles and applies weighted average cost calculated over the period. For 20X1: opening inventory of 800 units boxes at 15; purchases of 1,200 units boxes at 20; sales of 1,500 units boxes. Revenue has already been recognised. Record the entry recognising the cost of sales for the year.
- Opening inventory (boxes)
- 800
- Unit cost of opening inventory
- 15
- Boxes purchased
- 1,200
- Unit cost of purchases
- 20
- Boxes sold
- 1,500