The following information is available for Zhang Company: Units Item Beginning inventory 100 First purchase Second purchase Unit cost Total $4 $400 180 900 1.540 $2,840 220 7 500 Assume that Zhang uses a periodic inventory system and that there are 150 units left at the end of the month. Required: Assuming that the Company is using the Average-cost method: 1- Compute the average cost per unit. 2- Compute the cost of ending inventory.

The following information is available for Zhang Company: Units Item Beginning inventory 100 First purchase Second purchase Unit cost Total $4 $400 180 900 1.540 $2,840 220 7 500 Assume that Zhang uses a periodic inventory system and that there are 150 units left at the end of the month. Required: Assuming that the Company is using the Average-cost method: 1- Compute the average cost per unit. 2- Compute the cost of ending inventory.

Name: The following information is available for Zhang Company:ItemUnitsUni
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Description: The following information is available for Zhang Company:ItemUnitsUnit costTotalBeginning inventory h00First purchaseSecond purchase$4$40018090022071,540500$2,840Assume that Zhang uses a periodic inventory system and that there are 150 units left at

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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