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Question: My current weighted average is 97.89%. There are 7 assignments worth 35%, 8 discussions worth 15%, quizzes worth 30%, and project 1 worth 3%, project 2 worth 5%, project 3 worth 7%, and project 4 worth 5%. If the student receives a 85% on project 4 and a 90% on two assignments, and 85% on one discussion. What is the new weighted average?
Laker Company reported the following January purchases and sales data for its only product. For specific identification, ending inventory consists of 236 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 51 are from beginning inventory. Date Activities Units Acquired at Cost Units sold at Retail January 1 Beginning inventory 158 units @ $ 6.00 = $ 948 January 10 Sales 82 units @ $ 15.00 January 20 Purchase 78 units @ $ 5.00 = 390 January 25 Sales 98 units @ $ 15.00 January 30 Purchase 180 units @ $ 4.50 = 810 Totals 416 units $ 2,148 180 units Assume the perpetual inventory system is used. Required: Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. Determine the cost assigned to ending inventory and to cost of goods sold using LIFO.
Laker Company reported the following January purchases and sales data for its only product. For specific identification, ending inventory consists of 236 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 51 are from beginning inventory. Date Activities Units Acquired at Cost Units sold at Retail January 1 Beginning inventory 158 units @ $ 6.00 = $ 948 January 10 Sales 82 units @ $ 15.00 January 20 Purchase 78 units @ $ 5.00 = 390 January 25 Sales 98 units @ $ 15.00 January 30 Purchase 180 units @ $ 4.50 = 810 Totals 416 units $ 2,148 180 units Assume the perpetual inventory system is used. Required: Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. Determine the cost assigned to ending inventory and to cost of goods sold using LIFO.
The weight of each assessment category in your grade is given, so we're going to calculate the weighted average. Here's how to do it: 1. Start by converting each percentage into a decimal: Weight for assignments = 35% = 0.35 Weight for discussions = 15% = 0.15 Weight for quizzes = 30% = 0.30 Weight for project 1 = 3% = 0.03 Weight for project 2 = 5% = 0.05 Weight for project 3 = 7% = 0.07 Weight for project 4 = 5% = 0.05 2. Then, calculate the total contributions of each category to the final grade: Before the latest scores: Assignments = 0.35 * 97.89 = 34.26% Discussions = 0.15 * 97.89 = 14.68% Quizzes = 0.30 * 97.89 = 29.37% Project 1 = 0.03 * 97.89 = 2.94% Project 2 = 0.05 * 97.89 = 4.89% Project 3 = 0.07 * 97.89 = 6.85% With the new scores, you'll adjust the relevant categories: Assignments now have (5 scores of 97.89 and 2 scores of 90%) so it's (5*97.89 + 2*90)/7 =95.62% So, Assignments = 0.35 * 95.62 = 33.47% Discussions now have (7 scores of 97.89 and 1 score of 85%) so it's (7*97.89 + 85)/8 = 95.91% So, Discussions = 0.15 * 95.91 = 14.39% Project 4 = 0.05 * 85 = 4.25% 3. Finally, let's add all these to get the new weighted average: New Weighted average = Assignments + Discussions + Quizzes + Project 1 + Project 2 + Project 3 + Project 4 = 33.47% + 14.39% + 29.37% + 2.94% + 4.89% + 6.85% + 4.25% Thus, the new weighted average = 95.26%
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