Pharoah Inc. uses a periodic inventory system. Its records show the following for the month of May, in which 74 units were sold. Date May 1 15 24 (a1) Explanation Inventory Purchase Purchase Total Units 34 26 40 100 Your answer is correct. Unit Cost Weighted-average unit cost $9 $ 10 11 Total Cost $306 260 440 Calculate the weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125.) $1,006 10.06
Pharoah Inc. uses a periodic inventory system. Its records show the following for the month of May, in which 74 units were sold. Date May 1 15 24 (a1) Explanation Inventory Purchase Purchase Total Units 34 26 40 100 Your answer is correct. Unit Cost Weighted-average unit cost $9 $ 10 11 Total Cost $306 260 440 Calculate the weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125.) $1,006 10.06
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter7: Inventories: Cost Measurement And Flow Assumptions
Section: Chapter Questions
Problem 11E: Alternative Inventory Methods Nevens Company uses a periodic inventory system. During November, the...
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