The inventory records for Radford Company reflected the following 600 units @ $2.80 Beginning inventory on May 1 First purchase on May 7 second purchase on May 17 Third purchase on May 23 Sales on May 31 700 units e $3.00 900 units @ $3.10 500 units e $3.20 2,100 units e $4.70 What is the weighted average cost per unit for May?
The inventory records for Radford Company reflected the following 600 units @ $2.80 Beginning inventory on May 1 First purchase on May 7 second purchase on May 17 Third purchase on May 23 Sales on May 31 700 units e $3.00 900 units @ $3.10 500 units e $3.20 2,100 units e $4.70 What is the weighted average cost per unit for May?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![The inventory records for Radford Company reflected the following
600 units @ $2.80
Beginning inventory on May 1
First purchase on May 7
second purchase on May 17
Third purchase on May 23
700 units @ $3.00
900 units e $3.10
500 units @ $3.20
Sales on May 31
2,100 units @ $4.70
What is the weighted average cost per unit for May?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F2d47c76b-9656-42ec-addb-545216bef8d3%2F6aa9b7e8-31af-424c-948f-7af218a3b36a%2Fk3i97ld_processed.png&w=3840&q=75)
Transcribed Image Text:The inventory records for Radford Company reflected the following
600 units @ $2.80
Beginning inventory on May 1
First purchase on May 7
second purchase on May 17
Third purchase on May 23
700 units @ $3.00
900 units e $3.10
500 units @ $3.20
Sales on May 31
2,100 units @ $4.70
What is the weighted average cost per unit for May?
Expert Solution
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Step 1
Particulars |
No. of Units |
Cost per unit |
Total Value |
May 1 |
600 |
$2.80 |
$1680 |
May 7 |
700 |
$3 |
$2100 |
May 17 |
900 |
$3.10 |
$2790 |
May 23 |
500 |
$3.20 |
$1600 |
Total |
2700 |
|
$8170 |
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