Concord Company's record of transactions for the month of April was as follows. Purchases Sales April 1 (balance on hand) 540 @$5.50 April 3 450 @$10.00 4 1,350 @ 5.60 9 1,260 @ 10.00 8 720 @ 5.90 11 540 @ 11.00 13 1,080 @ 6.00 23 1,080 @ 11.00 21 630 @ 6.10 27 810 @ 12.00 29 450 @ 6.30 4,140 4,770 (a1) Assuming that periodic inventory records are kept in units only, calculate the average-cost per unit. (Row places, e.g. 2.76.)
Concord Company's record of transactions for the month of April was as follows. Purchases Sales April 1 (balance on hand) 540 @$5.50 April 3 450 @$10.00 4 1,350 @ 5.60 9 1,260 @ 10.00 8 720 @ 5.90 11 540 @ 11.00 13 1,080 @ 6.00 23 1,080 @ 11.00 21 630 @ 6.10 27 810 @ 12.00 29 450 @ 6.30 4,140 4,770 (a1) Assuming that periodic inventory records are kept in units only, calculate the average-cost per unit. (Row places, e.g. 2.76.)
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
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Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
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Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 43E: Montalcino Company had net sales of 54,000,000. Montalcino had the following balances: Required:...
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![Concord Company's record of transactions for the month of April was as follows.
April 1 (balance on hand)
4
8
13
21
(a1)
29
Purchases
$40 @ $5.50
1,350 @
5.60
720 @
1.080 @ 6.00
630 @ 6.10
450 @
5.90
4,770
6.30
April 3
9
11
23
27
Sales
450 @ $10.00
1,260 @ 10.00
540 @
1,080 @
810 @
4,140
11.00
11.00
12.00
Assuming that periodic inventory records are kept in units only, calculate the average-cost per unit. (Round answer to 2 decimal
places, e.g. 2.76.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa5b4001a-feef-4817-9443-3bfc9cdb14f8%2Fc27ce5fb-c538-416f-9d95-a4a22c4fa272%2Fq0jqlre_processed.png&w=3840&q=75)
Transcribed Image Text:Concord Company's record of transactions for the month of April was as follows.
April 1 (balance on hand)
4
8
13
21
(a1)
29
Purchases
$40 @ $5.50
1,350 @
5.60
720 @
1.080 @ 6.00
630 @ 6.10
450 @
5.90
4,770
6.30
April 3
9
11
23
27
Sales
450 @ $10.00
1,260 @ 10.00
540 @
1,080 @
810 @
4,140
11.00
11.00
12.00
Assuming that periodic inventory records are kept in units only, calculate the average-cost per unit. (Round answer to 2 decimal
places, e.g. 2.76.)
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