Coronado Corporation began operations on December 1, 2019. The only inventory transaction in 2019 was the purchase of inventory on December 10, 2019, at a cost of $23 per unit. None of this inventory was sold in 2019. Relevant information is as follows. Ending inventory units            December 31, 2019       165    December 31, 2020, by purchase date               December 2, 2020   165           July 20, 2020   50   215 During the year 2020, the following purchases and sales were made. Purchases   Sales March 15   365 units  at  $28   April 10   265 July 20   365 units  at  29   August 20   365 September 4   265 units  at  32   November 18   215 December 2   165 units  at  35   December 12   265 The company uses the periodic inventory method. (a1)     Calculate average-cost per unit. (Round answer to 2 decimal places, e.e. 2.76.) Average-cost   $

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter7: Inventories: Cost Measurement And Flow Assumptions
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Problem 5MC: The moving average inventory cost flow assumption is applicable to which of the following inventory...
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Coronado Corporation began operations on December 1, 2019. The only inventory transaction in 2019 was the purchase of inventory on December 10, 2019, at a cost of $23 per unit. None of this inventory was sold in 2019. Relevant information is as follows.

Ending inventory units        
   December 31, 2019       165
   December 31, 2020, by purchase date        
      December 2, 2020   165    
      July 20, 2020   50   215

During the year 2020, the following purchases and sales were made.

Purchases
 
Sales
March 15   365 units  at  $28   April 10   265
July 20   365 units  at  29   August 20   365
September 4   265 units  at  32   November 18   215
December 2   165 units  at  35   December 12   265

The company uses the periodic inventory method.

(a1)

 
 
Calculate average-cost per unit. (Round answer to 2 decimal places, e.e. 2.76.)

Average-cost  
$
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