Sheridan Inc. uses a periodic inventory system. Its records show the following for the month of May, in which 80 units were sold. Explanation Units Unit Cost Inventory 34 $9 Purchase 10 Purchase Date May 1 15 24 (a1) Total 26 40 100 11 Weighted average unit cost $ Total Cost $306 260 440 $1,006 Calculate the weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125.)
Sheridan Inc. uses a periodic inventory system. Its records show the following for the month of May, in which 80 units were sold. Explanation Units Unit Cost Inventory 34 $9 Purchase 10 Purchase Date May 1 15 24 (a1) Total 26 40 100 11 Weighted average unit cost $ Total Cost $306 260 440 $1,006 Calculate the weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125.)
Chapter1: Financial Statements And Business Decisions
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
Transcribed Image Text:Sheridan Inc. uses a periodic inventory system. Its records show the following for the month of May, in which 80 units were sold.
Explanation Units Unit Cost
Inventory
$9
Date
May 1
15
24
(a1)
Purchase
Purchase
Total
34
26
40
100
10
11
Weighted average unit cost $
Total Cost
$306
260
440
$1,006
Calculate the weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125.)
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