Crane Department Store uses a perpetual inventory system. Data for product E2-D2 includes the following purchases.DateMay 7July 28Number of Units(a1)40June 1 sale30Aug. 27 saleOn June 1, Crane sold 20 units, and on August 27, 30 more units.Unit PriceCalculate the weighted-average unit cost for each sale. (Round answers to 3 decimal places, e.g. 5.125.)$$18$23

The weighted average cost method is an inventory accounting method.It is calculated by the cost of…

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Business

Accounting

Calculate the weighted-average unit cost for each sale. (R

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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Question

Crane Department Store uses a perpetual inventory system. Data for product E2-D2 includes the following purchases.
Date
May 7
July 28
Number of Units
(a1)
40
June 1 sale
30
Aug. 27 sale
On June 1, Crane sold 20 units, and on August 27, 30 more units.
Unit Price
Calculate the weighted-average unit cost for each sale. (Round answers to 3 decimal places, e.g. 5.125.)
$
$18
$
23

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