Wildhorse Inc. uses a periodic inventory system. Its records show the following for the month of May, in which 76 units were sold.DateMay 11524Explanation Units Unit CostInventoryPurchasePurchaseTotale Textbook and Media362440100Ending inventory at May 31e Textbook and Medial$910Calculate the weighted average unit cost. (Round answer to 3 decimal places, eg. 5.125.)Weighted average unit cost S$11Calculate the ending inventory at May 31 using the FIFO, LIFO and average-cost methods. (Round answers to O decimal places, eg125)Total Cost$324240440$1,004FIFO$LIFOAVERAGE-COST

Name: Wildhorse Inc. uses a periodic inventory system. Its records show the
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Description: Wildhorse Inc. uses a periodic inventory system. Its records show the following for the month of May, in which 76 units were sold.DateMay 11524Explanation Units Unit CostInventoryPurchasePurchaseTotale Textbook and Media362440100Ending inventory at

The inventory can be valued using various methods are FIFO, LIFO and average method. Using FIFO, the…

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Wildhorse Inc. uses a periodic Inventory system. Its records show the following for the month of May, in which 76 units were sold. Explanation Units Unit Cost Inventory 36 $9 Purchase Purchase Total Date May 1 15 24 24 40 100 10 Weighted average unit cost S 11 Total Cost $324 240 440 $1,004 Calculate the weighted average unit cost. (Round answer to 3 decimal places, eg. 5.125.)

Wildhorse Inc. uses a periodic Inventory system. Its records show the following for the month of May, in which 76 units were sold. Explanation Units Unit Cost Inventory 36 $9 Purchase Purchase Total Date May 1 15 24 24 40 100 10 Weighted average unit cost S 11 Total Cost $324 240 440 $1,004 Calculate the weighted average unit cost. (Round answer to 3 decimal places, eg. 5.125.)

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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