Consider the following data extracted from the accounting records of a pastoralist: Sheep on hand - 01/07/2020 Purchases Natural Increase Sales Rations for employees Death and Missing Number Value - each 3,000 $ 6.00 4,500 8.50 3,000 4.00 5,900 10.00 50 Average cost 550 Based on the data, the average cost per head for Inventory valuation purposes is: Select one: 6.50 per head 6.00 per head 6.25 per head 6.55 per head A pastoralist provides the following details regarding his sheep during the year ended 30 June 2021. Sheep on hand - 01/07/2020 Purchases Natural increase Sheep on hand - 30/06/2021 Sales Killed for rations Deaths and missing Based on this information, the average cost is: Select one: 5.55 5.20 5.00 4.90 Number Value 3,500 $ 15,750 2,500 15,750 1,500 6,000 3,200 @average cost 4,000 34,000 100 450 200
Consider the following data extracted from the accounting records of a pastoralist: Sheep on hand - 01/07/2020 Purchases Natural Increase Sales Rations for employees Death and Missing Number Value - each 3,000 $ 6.00 4,500 8.50 3,000 4.00 5,900 10.00 50 Average cost 550 Based on the data, the average cost per head for Inventory valuation purposes is: Select one: 6.50 per head 6.00 per head 6.25 per head 6.55 per head A pastoralist provides the following details regarding his sheep during the year ended 30 June 2021. Sheep on hand - 01/07/2020 Purchases Natural increase Sheep on hand - 30/06/2021 Sales Killed for rations Deaths and missing Based on this information, the average cost is: Select one: 5.55 5.20 5.00 4.90 Number Value 3,500 $ 15,750 2,500 15,750 1,500 6,000 3,200 @average cost 4,000 34,000 100 450 200
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Transcribed Image Text:Consider the following data extracted from the accounting records of a
pastoralist:
Sheep on hand - 01/07/2020
Purchases
Natural Increase
Sales
Rations for employees
Death and Missing
Number
Value - each
3,000
$ 6.00
4,500
8.50
3,000
4.00
5,900
10.00
50
Average cost
550
Based on the data, the average cost per head for Inventory valuation purposes is:
Select one:
6.50 per head
6.00 per head
6.25 per head
6.55 per head
Transcribed Image Text:A pastoralist provides the following details regarding his sheep during the year
ended 30 June 2021.
Sheep on hand - 01/07/2020
Purchases
Natural increase
Sheep on hand - 30/06/2021
Sales
Killed for rations
Deaths and missing
Based on this information, the average cost is:
Select one:
5.55
5.20
5.00
4.90
Number
Value
3,500
$ 15,750
2,500
15,750
1,500
6,000
3,200
@average cost
4,000
34,000
100
450
200
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