Silver​ Crafts, Inc. purchases and sells bracelets. The following information summarizes the​ company's operating activities for the​ year:   Selling and Administrative Expenses $4,800 Purchases 158,000 Sales Revenue 790,000 Merchandise​ Inventory, January 1 2,300 Merchandise​ Inventory, December 31 38,550   If the company sold 7,400 bracelets during the​ year, how much is the unit cost for one​ bracelet? (Round your answer to the nearest​ cent.)

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Silver​ Crafts, Inc. purchases and sells bracelets. The following information summarizes the​ company's operating activities for the​ year:
 
Selling and Administrative Expenses
$4,800
Purchases
158,000
Sales Revenue
790,000
Merchandise​ Inventory, January 1
2,300
Merchandise​ Inventory, December 31
38,550
 
If the company sold
7,400
bracelets during the​ year, how much is the unit cost for one​ bracelet? (Round your answer to the nearest​ cent.)
 
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