Calculate the average unit cost for the inventory table shown below.UnitsCost per Totalpurchased43221826Date of purchaseBeginning inventoryFebruary 5February 19March 3Goods available forsaleUnits soldEnding inventory1098128unit$840$1,750cost$36,120$38,500(Round to the nearest cent as needed.)Retail priceper unit$975$2,105$975 $17,550 $1,996$470$12,220$590$104,390Total retailvalue$41,925$46,310$35,928$15,340$139,503***

Average unit cost of inventory is the average cost incurred by a company to produce or purchase a…

Calculate the average unit cost for the inventory table shown below. Units Cost per Total Retail price purchased per unit 43 22 Date of purchase Beginning inventory February 5 February 19 March 3 Goods available for sale Units sold Ending inventory 18 26 109 81 28 unit cost $840 $36,120 $1,750 $38,500 $975 $470 $17,550 $12,220 $104,390 $975 $2,105 $1,996 $590 Total retail value. $41,925 $46,310 $35,928 $15,340 $139,503

Calculate the average unit cost for the inventory table shown below. Units Cost per Total Retail price purchased per unit 43 22 Date of purchase Beginning inventory February 5 February 19 March 3 Goods available for sale Units sold Ending inventory 18 26 109 81 28 unit cost $840 $36,120 $1,750 $38,500 $975 $470 $17,550 $12,220 $104,390 $975 $2,105 $1,996 $590 Total retail value. $41,925 $46,310 $35,928 $15,340 $139,503

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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Cost/Unit Units 5 $ 30 6 7 9 120 60 90 Explanation Beginning Purchase Purchase Purchase .Shandy Shutters has the following inventory information Date Nov.1 Nov.8 Nov.17 Nov.25 .During the month, total units sold are 120 units ?Using the Weighted-Average method, what is the Cost of Goods Sold $690 $1,410 O $1,260 O $840
7) Use either the FIFO or LIFO inventory valuation method to determine final inventory. Date Units Unit Cost Total Cost Jan 1 Inventory 400 $13 March 10 Purchase 200 12 May 9 Purchase 300 17 Nov 1 Purchase 100 20 Sales of units were as follows $32 $31 $35 Jan 15 200 April 1 Nov 28 200 300
The inventory data for an item for November are: Nov. 1 Inventory 19 units at $24 4 Sold 8 units 10 Purchased 34 units at $21 17 Sold 15 units 30 Purchased 24 units at $24 Using a perpetual system, what is the cost of the goods sold for November if the company uses LIFO? a.$540 b.$507 c.$771 d.$1,206
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Inventory data for Bramble Company are reported as follows. Date June 1 12 23 30 Explanation Units Inventory Purchase Purchase Inventory 200 600 350 130 Unit Cost Calculate cost of goods available for sale. $7 8 9 Total Cost $1,400 4,800 3,150 Assume a sale of 650 units occurred on June 15 for a selling price of $
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What is another way of saying "Interest earned on interest"?
The inventory records for Radford Company reflected the following Beginning inventory on May 1 First purchase on May 7 second purchase on May 17 Third purchase on May 23 1,800 units @ $5.20 1,900 units @ $5.40 2,100 units @ $5.50 1,700 units @ $5.60 Sales on May 31 5,700 units @ $7.10 What is the weighted average cost per unit for May? Multiple Choice $5.37 $5.43
Date January 1 May 5 November 3 Weighted Average Transaction Beginning inventory Purchase Purchase Cost Beginning Inventory Purchases: May 5 November 3 Total Calculate ending inventory and cost of goods sold for the year, assuming the company uses weighted-average cost. (Round your average cost per unit to 4 decimal places.) Number of units Number of Units 60 Cost of Goods Available for Sale 60 Average Cost per unit 220 140 420 Cost of Goods Available for Sale $ 220 140 420 $33,700.0000 $ Unit Cost $76 4,560 79 84 17,380 11,760 33,700 Total Cost $4,560 17,380 11,760 $33,700 Cost of Goods Sold - Weighted Average Cost Number of units sold Average Cost per Unit Cost of Goods Sold 375 $30,280.0000 $ 11,355,000.00 Ending Inventory - Weighted Average Cost Number of units in ending inventory Average Cost per unit 45 $ Ending Inventory 3,420.0000 $ 153,900.00
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