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
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter7: Inventories
Section: Chapter Questions
Problem 6CP
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![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?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F41ff29bc-001a-47f2-a1ea-ebcdc132bb7e%2Ff29937a8-fd44-4100-ae47-90a2716d9328%2F05dlwnx_processed.png&w=3840&q=75)
Transcribed Image Text: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?
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