Oriole Company's record of transactions concerning part WA6 for the month of September was as f s as follows. Purchases September 1 (balance on hand) 3 (a1) 12 16 22 26 300 @ $13.00 200 @ 13.10 Average-cost per unit 300 @ 300 @ 500 @ 300 @ 13.40 13.25 13.30 13.30 Sales September 4 17 27 30 400 600 300 200 Calculate average-cost per unit. Assume that perpetual inventory records are kept in units only. (Round answer to 2 decimal pla e.g.2.76.)
Oriole Company's record of transactions concerning part WA6 for the month of September was as f s as follows. Purchases September 1 (balance on hand) 3 (a1) 12 16 22 26 300 @ $13.00 200 @ 13.10 Average-cost per unit 300 @ 300 @ 500 @ 300 @ 13.40 13.25 13.30 13.30 Sales September 4 17 27 30 400 600 300 200 Calculate average-cost per unit. Assume that perpetual inventory records are kept in units only. (Round answer to 2 decimal pla e.g.2.76.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![Oriole Company's record of transactions concerning part WA6 for the month of September was as follows.
Purchases
September 1 (balance on hand)
3
(a1)
نا
12
292 2
16
300
200 @
300 @
300 @
500 @
300
@ $13.00
Average-cost per unit $
@
13.10
13.25
13.30
13.30
13.40
Sales
September 4
17
27
30
400
600
300
200
Calculate average-cost per unit. Assume that perpetual inventory records are kept in units only. (Round answer to 2 decimal places,
eg. 2.76.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff3064133-e5d1-48b6-99b6-f28447845ea4%2Ff34219d2-f940-4054-9790-9ceff9ce8c6b%2Frkeb5n_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Oriole Company's record of transactions concerning part WA6 for the month of September was as follows.
Purchases
September 1 (balance on hand)
3
(a1)
نا
12
292 2
16
300
200 @
300 @
300 @
500 @
300
@ $13.00
Average-cost per unit $
@
13.10
13.25
13.30
13.30
13.40
Sales
September 4
17
27
30
400
600
300
200
Calculate average-cost per unit. Assume that perpetual inventory records are kept in units only. (Round answer to 2 decimal places,
eg. 2.76.)
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Follow-up Questions
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Follow-up Question
![Compute the inventory at September 30 on each of the following bases. Assume that perpetual inventory records are kept in
units only. (1) First-in, first-out (FIFO). (2) Last-in, first-out (LIFO). (3) Average-cost. (Round average cost per unit to 2 decimal places,
e.g. 2.76 and final answers to O decimal places, e.g. 6,548.)
Ending Inventory $
(1)
FIFO
(2)
LIFO
$
(3)
Average-cost](https://content.bartleby.com/qna-images/question/f3064133-e5d1-48b6-99b6-f28447845ea4/91ef9e65-5848-4ef4-91be-8ea67bbff0f2/64v78wh_thumbnail.jpeg)
Transcribed Image Text:Compute the inventory at September 30 on each of the following bases. Assume that perpetual inventory records are kept in
units only. (1) First-in, first-out (FIFO). (2) Last-in, first-out (LIFO). (3) Average-cost. (Round average cost per unit to 2 decimal places,
e.g. 2.76 and final answers to O decimal places, e.g. 6,548.)
Ending Inventory $
(1)
FIFO
(2)
LIFO
$
(3)
Average-cost
Solution
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