8. Celine Company provided the following data relating to an inventory item. Total cost 1,000,000 1,250,000 Units Unit cost Beginning balance 10 Purchase 15 Sale 16 Sale return 30 Purchase 31 Purchase return 5,000 5,000 7,000 1,000 16,000 2,000 200 250 Jan. 1 2,400,000 300,000 150 150 Under the perpetual system, what is the moving average unit cost on January 31? а. 167 b. 165 С. 181 d. 225
8. Celine Company provided the following data relating to an inventory item. Total cost 1,000,000 1,250,000 Units Unit cost Beginning balance 10 Purchase 15 Sale 16 Sale return 30 Purchase 31 Purchase return 5,000 5,000 7,000 1,000 16,000 2,000 200 250 Jan. 1 2,400,000 300,000 150 150 Under the perpetual system, what is the moving average unit cost on January 31? а. 167 b. 165 С. 181 d. 225
Corporate Financial Accounting
15th Edition
ISBN:9781337398169
Author:Carl Warren, Jeff Jones
Publisher:Carl Warren, Jeff Jones
Chapter6: Inventories
Section: Chapter Questions
Problem 7DQ: Using the following data, how should the inventory be valued under lower of cost or market? Original...
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