Ivanhoe Company uses a perpetual inventory system and reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 130 $5 $650 12 Purchase 370 6 2,220 23 Purchase 200 7 1,400 30 Inventory 250 (a1) Calculate the weighted-average cost per unit, using a perpetual inventory system. Assume a sale of 400 units occurred on June 15 for a selling price of $8 and a sale of 50 units on June 27 for $9. (Round intermediate calculations to O decimal places, eg. 152 and final answers to 3 decimal places, eg. 5.125.) June 1 $ June 12 $ June 15 $ June 23 $ June 27 $
Ivanhoe Company uses a perpetual inventory system and reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 130 $5 $650 12 Purchase 370 6 2,220 23 Purchase 200 7 1,400 30 Inventory 250 (a1) Calculate the weighted-average cost per unit, using a perpetual inventory system. Assume a sale of 400 units occurred on June 15 for a selling price of $8 and a sale of 50 units on June 27 for $9. (Round intermediate calculations to O decimal places, eg. 152 and final answers to 3 decimal places, eg. 5.125.) June 1 $ June 12 $ June 15 $ June 23 $ June 27 $
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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![Ivanhoe Company uses a perpetual inventory system and reports the following for the month of June.
Date
Explanation Units
Unit Cost
Total Cost
June 1
Inventory
130
$5
$650
12
Purchase
370
6
2,220
23
Purchase
200
7
1,400
30
Inventory
250
(a1)
Calculate the weighted-average cost per unit, using a perpetual inventory system. Assume a sale of 400 units occurred on June 15
for a selling price of $8 and a sale of 50 units on June 27 for $9. (Round intermediate calculations to O decimal places, eg. 152 and final
answers to 3 decimal places, eg. 5.125.)
June 1
$
June 12
$
June 15
$
June 23
$
June 27
$](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6e415e89-b15c-4691-b794-c1f1bc8f0e90%2F2684bf5c-ed3d-44d0-b00b-e0e9410f5333%2Favo15f_processed.png&w=3840&q=75)
Transcribed Image Text:Ivanhoe Company uses a perpetual inventory system and reports the following for the month of June.
Date
Explanation Units
Unit Cost
Total Cost
June 1
Inventory
130
$5
$650
12
Purchase
370
6
2,220
23
Purchase
200
7
1,400
30
Inventory
250
(a1)
Calculate the weighted-average cost per unit, using a perpetual inventory system. Assume a sale of 400 units occurred on June 15
for a selling price of $8 and a sale of 50 units on June 27 for $9. (Round intermediate calculations to O decimal places, eg. 152 and final
answers to 3 decimal places, eg. 5.125.)
June 1
$
June 12
$
June 15
$
June 23
$
June 27
$
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