The Kennedy Company uses throttles in its assembly of lawn mowers. Information as to balanceson hand, purchases, and requisitions of throttles is given in the following table.Number ofUnitsUnit PriceBalance ofUnitsTransactionDateJan. 1Beginning balance50$2.5050Purchased150$3.00200Jan. 20Feb. 3Issued40160Mar. 25Issued7090Jun. 14Purchased75$4.00165Aug. 27Sep. 16Oct. 7Dec. 13Issued65100Issued5545Purchased75$4.50120Issued7050If a perpetual inventory record of throttles is maintained on a moving average basis, the 165 itemsin inventory on June 14 will have a unit cost of (rounded to three decimal places):

Name: The Kennedy Company uses throttles in its assembly of lawn mowers. In
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Description: The Kennedy Company uses throttles in its assembly of lawn mowers. Information as to balanceson hand, purchases, and requisitions of throttles is given in the following table.Number ofUnitsUnit PriceBalance ofUnitsTransactionDateJan. 1Beginning bala

Inventory Valuation Method: Inventory valuation methods are used to determine the cost of goods sold…

Business

Accounting

The Kennedy Company uses throttles in its assembly of lawn mowers. Information as to balances on hand, purchases, and requisitions of throttles is given in the following table. Number of Units 50 Balance of Units Transaction Unit Price Date Jan. 1 Beginning balance $2.50 50 Jan. 20 Purchased 150 $3.00 200 Feb. 3 Issued 40 160 Mar. 25 Issued 70 90 Jun. 14 Purchased 75 $4.00 165 Aug. 27 Sep. 16 Oct. 7 Issued 65 100 Issued 55 45 Purchased 75 $4.50 120 Dec. 13 Issued 70 50 If a perpetual inventory record of throttles is maintained on a moving average basis, the 165 items in inventory on June 14 will have a unit cost of (rounded to three decimal places):

The Kennedy Company uses throttles in its assembly of lawn mowers. Information as to balances on hand, purchases, and requisitions of throttles is given in the following table. Number of Units 50 Balance of Units Transaction Unit Price Date Jan. 1 Beginning balance $2.50 50 Jan. 20 Purchased 150 $3.00 200 Feb. 3 Issued 40 160 Mar. 25 Issued 70 90 Jun. 14 Purchased 75 $4.00 165 Aug. 27 Sep. 16 Oct. 7 Issued 65 100 Issued 55 45 Purchased 75 $4.50 120 Dec. 13 Issued 70 50 If a perpetual inventory record of throttles is maintained on a moving average basis, the 165 items in inventory on June 14 will have a unit cost of (rounded to three decimal places):

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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