12. Records for Maxine's Beauty Supply show this opening balance and these units received for nail polish in December. At the end of the month, 12 bottles were on hand. a) the average cost per unit b) the value of the inventory using the average cost method. Date Units Received Unit Cost Total Cost Dec. 3 43 $1.49 Dec. 10 267 1.43 Dec. 20 200 1.44 TOTAL

Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter4: Job Order Costing
Section: Chapter Questions
Problem 4EB: Masonrys records show the raw materials inventory had purchases of $1,000and an ending raw materials...
icon
Related questions
Topic Video
Question
12. Records for Maxine's Beauty Supply show this opening balance and these units received for
nail polish in December. At the end of the month, 12 bottles were on hand.
a) the average cost per unit
b) the value of the inventory using the average cost method.
Date
Units Received
Unit Cost
Total Cost
Dec. 3
43
$1.49
Dec. 10
| 267
1.43
Dec. 20
200
1.44
ТOTAL
Transcribed Image Text:12. Records for Maxine's Beauty Supply show this opening balance and these units received for nail polish in December. At the end of the month, 12 bottles were on hand. a) the average cost per unit b) the value of the inventory using the average cost method. Date Units Received Unit Cost Total Cost Dec. 3 43 $1.49 Dec. 10 | 267 1.43 Dec. 20 200 1.44 ТOTAL
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Accounting for Merchandise Inventory
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Principles of Accounting Volume 2
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
Financial Accounting: The Impact on Decision Make…
Financial Accounting: The Impact on Decision Make…
Accounting
ISBN:
9781305654174
Author:
Gary A. Porter, Curtis L. Norton
Publisher:
Cengage Learning
Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Financial Accounting
Financial Accounting
Accounting
ISBN:
9781337272124
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Excel Applications for Accounting Principles
Excel Applications for Accounting Principles
Accounting
ISBN:
9781111581565
Author:
Gaylord N. Smith
Publisher:
Cengage Learning
Principles of Accounting Volume 1
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College