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

See similar textbooks

Similar questions

Do not give image format
7
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
Purchases Sales Units Unit Cost Units Selling Price/Unit 3/1 Beginning inventory 102 $30 3/3 Purchase 62 $40 3/4 Sales 72 $60 3/10 Purchase 202 $45 3/16 Sales 82 $70 3/19 Purchase 42 $50 3/25 Sales 122 $70 Using the inventory and sales data above, calculate the value assigned to cost of goods sold in March and to the ending inventory at March 31 using FIFO and LIFO.
What is the value of cost of good sold on may using weighted avarege method?
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
DATE DETAILS UNITS COST PER UNIT 1 OPENING INVENTORY 20 R85 7 Purchases 23 R90 16 Purchases 33 R95 25 Purchases 18 R100 31 Sales for the month 69 Calculate the value of closing inventory using the Weighted average cost inventory valuationmethod.
3
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 $
A.4
What is another way of saying "Interest earned on interest"?