At a lump-sum cost of $65500, Sheridan Company recently purchased the following items for resale: Item No. of Items Purchased Resale Price Per Unit M 3300 $3.40 N 1650 11.30 O 5300 5.30 The appropriate cost per unit of inventory is:

At a lump-sum cost of $65500, Sheridan Company recently purchased the following items for resale: Item No. of Items Purchased Resale Price Per Unit M 3300 $3.40 N 1650 11.30 O 5300 5.30 The appropriate cost per unit of inventory is:

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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Question

At a lump-sum cost of $65500, Sheridan Company recently purchased the following items for resale:

Item	No. of Items Purchased	Resale Price Per Unit
M	3300		$3.40
N	1650		11.30
O	5300		5.30

The appropriate cost per unit of inventory is:

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