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.)
Chapter1: Financial Statements And Business Decisions
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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
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