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* Your answer is incorrect. Calculate the price index for 2025. Assume that the December 2, 2025, purchase cost is the current cost of inventory. (Hint: The beginning inventory is the base layer priced at $22 per unit.) (Round answer to 4 decimal places, e.g. 2.7653) Price index 1.5455

* Your answer is incorrect. Calculate the price index for 2025. Assume that the December 2, 2025, purchase cost is the current cost of inventory. (Hint: The beginning inventory is the base layer priced at $22 per unit.) (Round answer to 4 decimal places, e.g. 2.7653) Price index 1.5455

FINANCIAL ACCOUNTING
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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Windsor Corporation began operations on December 1, 2024. The only inventory transaction in 2024 was the purchase of inventory on December 10, 2024, at a cost of $22 per unit. None of this inventory was sold in 2024. Relevant information is as follows. Ending inventory units December 31, 2024 December 31, 2025, by purchase date December 2, 2025 July 20, 2025 Purchases March 15 July 20 September 4 December 2 145 50 During the year, the following purchases and sales were made. 345 units at $27 345 units at 28 245 units at 31 145 units at 34 145 195 Sales April 10 August 20 November 18 December 12 245 345 195 245
Transcribed Image Text:Windsor Corporation began operations on December 1, 2024. The only inventory transaction in 2024 was the purchase of inventory on December 10, 2024, at a cost of $22 per unit. None of this inventory was sold in 2024. Relevant information is as follows. Ending inventory units December 31, 2024 December 31, 2025, by purchase date December 2, 2025 July 20, 2025 Purchases March 15 July 20 September 4 December 2 145 50 During the year, the following purchases and sales were made. 345 units at $27 345 units at 28 245 units at 31 145 units at 34 145 195 Sales April 10 August 20 November 18 December 12 245 345 195 245
* Your answer is incorrect. Calculate the price index for 2025. Assume that the December 2, 2025, purchase cost is the current cost of inventory. (Hint: The beginning inventory is the base layer priced at $22 per unit.) (Round answer to 4 decimal places, e.g. 2.7653.) Price index 1.5455
Transcribed Image Text:* Your answer is incorrect. Calculate the price index for 2025. Assume that the December 2, 2025, purchase cost is the current cost of inventory. (Hint: The beginning inventory is the base layer priced at $22 per unit.) (Round answer to 4 decimal places, e.g. 2.7653.) Price index 1.5455
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