You are provided with the following information for Lily Inc. for the month ended June 30, 2022. Lily uses the periodic method for inventory system. Date   Description   Quantity   Unit Cost or Selling Price June 1   Beginning inventory   40     $34   June 4   Purchase   135     37   June 10   Sale   110     60   June 11   Sale return   15     60   June 18   Purchase   55     40   June 18   Purchase return   10     40   June 25   Sale   54     65   June 28   Purchase   35     43       Calculate weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.225.) Weighted-average unit cost   $Enter the weighted-average cost per unit in dollars

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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You are provided with the following information for Lily Inc. for the month ended June 30, 2022. Lily uses the periodic method for inventory system.

Date
 
Description
 
Quantity
 
Unit Cost or
Selling Price
June
1
 
Beginning inventory
  40     $34  
June
4
 
Purchase
  135     37  
June
10
 
Sale
  110     60  
June
11
 
Sale return
  15     60  
June
18
 
Purchase
  55     40  
June
18
 
Purchase return
  10     40  
June
25
 
Sale
  54     65  
June
28
 
Purchase
  35     43  
 
 
Calculate weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.225.)

Weighted-average unit cost  
$Enter the weighted-average cost per unit in dollars 
 
 
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