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Calculate the average cost per unit at July 1, 6, 11, 14, 21 & 27. (Round decimal places and final answers to 3 decimal places, e.g. $105.5C July Average cost for each unit 1 $

Calculate the average cost per unit at July 1, 6, 11, 14, 21 & 27. (Round decimal places and final answers to 3 decimal places, e.g. $105.5C July Average cost for each unit 1 $

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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Calculate the average cost per unit at July 1, 6, 11, 14, 21 & 27. (Round intermediate calculations to 0 decimal places and final answers to 3 decimal places, e.g. $105.501.) July 1 Average cost for each unit $ July 6 $ July 11 $ July 14 $ July 21 $ July 27 $ Determine the ending inventory under a perpetual inventory system using (1) FIFO, (2) moving-average cost, and (3) LIFO. (Round average-cost per unit to 3 decimal places, e.g. 12.520 and final answer to 0 decimal places, e.g. 1,250.) The ending inventory under a perpetual inventory system $ FIFO $ MOVING-AVERAGE $
Transcribed Image Text:Calculate the average cost per unit at July 1, 6, 11, 14, 21 & 27. (Round intermediate calculations to 0 decimal places and final answers to 3 decimal places, e.g. $105.501.) July 1 Average cost for each unit $ July 6 $ July 11 $ July 14 $ July 21 $ July 27 $ Determine the ending inventory under a perpetual inventory system using (1) FIFO, (2) moving-average cost, and (3) LIFO. (Round average-cost per unit to 3 decimal places, e.g. 12.520 and final answer to 0 decimal places, e.g. 1,250.) The ending inventory under a perpetual inventory system $ FIFO $ MOVING-AVERAGE $
Blossom Co. began operations on July 1. It uses a perpetual inventory system. During July, the company had the following purchases and sales. Date July 1 July 6 July 11 July 14 July 21 July 27 Purchases Units Unit Cost 7 8 $120 $130 $141 Sales Units 3 6
Transcribed Image Text:Blossom Co. began operations on July 1. It uses a perpetual inventory system. During July, the company had the following purchases and sales. Date July 1 July 6 July 11 July 14 July 21 July 27 Purchases Units Unit Cost 7 8 $120 $130 $141 Sales Units 3 6
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