The inventory records for Radford Company reflected the following Beginning inventory on May 1 First purchase on May 7 second purchase on May 17 Third purchase on May 23 1,800 units @ $5.20 1,900 units @ $5.40 2,100 units @ $5.50 1,700 units @ $5.60 Sales on May 31 5,700 units @ $7.10 What is the weighted average cost per unit for May? Multiple Choice $5.37 $5.43

The inventory records for Radford Company reflected the following Beginning inventory on May 1 First purchase on May 7 second purchase on May 17 Third purchase on May 23 1,800 units @ $5.20 1,900 units @ $5.40 2,100 units @ $5.50 1,700 units @ $5.60 Sales on May 31 5,700 units @ $7.10 What is the weighted average cost per unit for May? Multiple Choice $5.37 $5.43

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Description: The inventory records for Radford Company reflected the followingBeginning inventory on May 1First purchase on May 7second purchase on May 17Third purchase on May 231,800 units @ $5.201,900 units @ $5.402,100 units @ $5.501,700 units @ $5.60Sales on

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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The inventory records for Radford Co. reflected the following: Beginning inventory @ May 1 1,900 units @ $ 5.40 First purchase @ May 7 2,000 units @ $ 5.60 second purchase @ May 17 2,200 units @ $ 5.70 Third purchase @ May 23 1,800 units @ $ 5.80 Sales @ May 31 6,000 units @ $ 7.30 Determine the weighted average cost per unit (rounded) for May.