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    Jamie2763's Avatar
    Jamie2763 Posts: 1, Reputation: 1
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    #1

    Oct 20, 2012, 12:20 AM
    Moving weighted average using purchase discounts and returns
    Hi. I'm self studying and I've been stuck on a question for a couple of days. I have the concepts and the calculations down pat for moving weighted average perpetual inventory systems, but as soon as a purchase discount and purchase return are factored in, I'm lost. Is someone able to show me an example of what this worksheet would look like so I have a guide to go off? I have nothing in my notes or books.

    Thank you!!
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
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    #2

    Oct 22, 2012, 02:27 PM
    a purchase return is just a reversal of a previous transaction. It would be usual for discounts to be dealt with outside of the inventory system but if not they are just an adjustment of the values with a zero quantity
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