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Brief Exercise 6-04 a1-a2 In its first month of operations, Sunland Company made three purchases of merchandise in the following sequence: (1) 350 units at $7, (2) 420 units at $8, and (3) 230 units at $9. Calculate the average unit cost. (Round answer to 2 decimal places, e.g. 15.25.)

Brief Exercise 6-04 a1-a2 In its first month of operations, Sunland Company made three purchases of merchandise in the following sequence: (1) 350 units at $7, (2) 420 units at $8, and (3) 230 units at $9. Calculate the average unit cost. (Round answer to 2 decimal places, e.g. 15.25.)

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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Brief Exercise 6-04 a1-a2 In its first month of operations, Sunland Company made three purchases of merchandise in the following sequence: (1) 350 units at $7, (2) 420 units at $8, and (3) 230 units at $9. Calculate the average unit cost. (Round answer to 2 decimal places, e.g. 15.25.) Average unit cost Compute the cost of the ending inventory under the average-cost method, assuming there are 360 units on hand. (Round answer to 0 decimal places, e.g. 1,250.) The cost of the ending inventory Click if you would like to Show Work for this question: Open Show Work
Transcribed Image Text:Brief Exercise 6-04 a1-a2 In its first month of operations, Sunland Company made three purchases of merchandise in the following sequence: (1) 350 units at $7, (2) 420 units at $8, and (3) 230 units at $9. Calculate the average unit cost. (Round answer to 2 decimal places, e.g. 15.25.) Average unit cost Compute the cost of the ending inventory under the average-cost method, assuming there are 360 units on hand. (Round answer to 0 decimal places, e.g. 1,250.) The cost of the ending inventory Click if you would like to Show Work for this question: Open Show Work
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