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Akira Company had the following transactions for the month. Beginning Inventory Purchased March 31 Purchased October 15 Ending Inventory Akira Company data Number of Units Cost for Units 150 $1,500 160 1,920 130 1,950 50 ? Using the weighted average (AVG) method, determine the cost per unit for the units in ending inventory. Then, calculate the gross margin for the period for each the weighted average (AVG) method, using periodic inventory system. Assume that all units were sold for $25 each.

Akira Company had the following transactions for the month. Beginning Inventory Purchased March 31 Purchased October 15 Ending Inventory Akira Company data Number of Units Cost for Units 150 $1,500 160 1,920 130 1,950 50 ? Using the weighted average (AVG) method, determine the cost per unit for the units in ending inventory. Then, calculate the gross margin for the period for each the weighted average (AVG) method, using periodic inventory system. Assume that all units were sold for $25 each.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Akira Company had the following transactions for the month. Beginning Inventory Purchased March 31 Purchased October 15 Ending Inventory Akira Company data Number of Units Cost for Units 150 $1,500 160 1,920 130 1,950 50 ? Using the weighted average (AVG) method, determine the cost per unit for the units in ending inventory. Then, calculate the gross margin for the period for each the weighted average (AVG) method, using periodic inventory system. Assume that all units were sold for $25 each.
Transcribed Image Text:Akira Company had the following transactions for the month. Beginning Inventory Purchased March 31 Purchased October 15 Ending Inventory Akira Company data Number of Units Cost for Units 150 $1,500 160 1,920 130 1,950 50 ? Using the weighted average (AVG) method, determine the cost per unit for the units in ending inventory. Then, calculate the gross margin for the period for each the weighted average (AVG) method, using periodic inventory system. Assume that all units were sold for $25 each.
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