At August 1 of the current year, there are 4,000 units at P15 each of merchandise inventory. During August, the following transactions occurred: August 2, purchased 5,000 units at P15.15 each; August 5, sold 4,000 units; August 8, sold 2,600 units; August 12, purchased 6,000 units at P15.20 each; August 16, sold 4,200 units; August 20, sold 3,800 units; August 24, purchased 6,000 units at P15.25 each; August 28, sold 2,200 units; and August 31, sold 3,600 units. Under the moving average using perpetual inventory system, what is the average unit cost of inventory at August 31?

At August 1 of the current year, there are 4,000 units at P15 each of merchandise inventory. During August, the following transactions occurred: August 2, purchased 5,000 units at P15.15 each; August 5, sold 4,000 units; August 8, sold 2,600 units; August 12, purchased 6,000 units at P15.20 each; August 16, sold 4,200 units; August 20, sold 3,800 units; August 24, purchased 6,000 units at P15.25 each; August 28, sold 2,200 units; and August 31, sold 3,600 units. Under the moving average using perpetual inventory system, what is the average unit cost of inventory at August 31?

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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