Under the perpetual system, what is the moving average unit cost on January 31?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
![Celine Company provided the following data relating to an inventory
item.
Units
Unit cost
Total cost
Jan. 1 Beginning balance
10 Purchase
15 Sale
1,000,000
1,250,000
5,000
5,000
7,000
1,000
16,000
2,000
200
250
16 Sale return
2,400,000
300,000
30 Purchase
150
31 Purchase return
150
Under the perpetual system, what is the moving average unit cost on
January 31?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd9a512f9-1257-48fc-9e3d-7bcc8bcf7971%2Fde211a56-e31c-4b2a-a0b2-34dd49399596%2Fd4rurj_processed.png&w=3840&q=75)
Transcribed Image Text:Celine Company provided the following data relating to an inventory
item.
Units
Unit cost
Total cost
Jan. 1 Beginning balance
10 Purchase
15 Sale
1,000,000
1,250,000
5,000
5,000
7,000
1,000
16,000
2,000
200
250
16 Sale return
2,400,000
300,000
30 Purchase
150
31 Purchase return
150
Under the perpetual system, what is the moving average unit cost on
January 31?
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