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Sandhill Company had the following transactions for the month of June: June 1 3 15 22 Purchases (balance) 3300 @ $3.20 8700@ 4840@ 3.30 3.40 2010@ 3.50 7230@ $16416. O $17333. O $17213.. O $16985. 3.10 June 2 6 9 10 18 25 Sales 2320@ $5.50 6470@ 5.50 4070@ 5.50 1590@ 5.00 5590@ 830@ 5.00 5.00 Assuming that perpetual inventory records are kept in units only, the ending inventory on an average-cost basis, is (Round average cost per unit to 2 decimal places, e.g. 1.48.)

Sandhill Company had the following transactions for the month of June: June 1 3 15 22 Purchases (balance) 3300 @ $3.20 8700@ 4840@ 3.30 3.40 2010@ 3.50 7230@ $16416. O $17333. O $17213.. O $16985. 3.10 June 2 6 9 10 18 25 Sales 2320@ $5.50 6470@ 5.50 4070@ 5.50 1590@ 5.00 5590@ 830@ 5.00 5.00 Assuming that perpetual inventory records are kept in units only, the ending inventory on an average-cost basis, is (Round average cost per unit to 2 decimal places, e.g. 1.48.)

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Sandhill Company had the following transactions for the month of June: June 1 3 7 15 22 Purchases (balance) 3300 @ $3.20 3.10 4840@ 3.30 O $16416. O $17333. O $17213. O $16985. 8700 @ 7230@ 2010@ 3.40 3.50 June 2 2320 @ $5.50 6470@ 5.50 4070@ 5.50 10 1590@ 5.00 18 5590@ 5.00 830@ 5.00 6 9 Sales 25 Assuming that perpetual inventory records are kept in units only, the ending inventory on an average-cost basis, is (Round average cost per unit to 2 decimal places, e.g. 1.48.)
Transcribed Image Text:Sandhill Company had the following transactions for the month of June: June 1 3 7 15 22 Purchases (balance) 3300 @ $3.20 3.10 4840@ 3.30 O $16416. O $17333. O $17213. O $16985. 8700 @ 7230@ 2010@ 3.40 3.50 June 2 2320 @ $5.50 6470@ 5.50 4070@ 5.50 10 1590@ 5.00 18 5590@ 5.00 830@ 5.00 6 9 Sales 25 Assuming that perpetual inventory records are kept in units only, the ending inventory on an average-cost basis, is (Round average cost per unit to 2 decimal places, e.g. 1.48.)
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