In its first month of operations, Skysong, Inc. made three purchases of merchandise in the following sequence: (1) 650 units at $6, (2) 750 units at $8, and (3) 850 units at $9. Calculate average unit cost. (Round answer to 3 decimal places, e.g. 5.125.) Average unit cost $enter an average unit cost in dollars Compute the cost of the ending inventory under the average-cost method, assuming there are 550 units on hand at the end of the period. (Round answer to 0 decimal places, e.g. 125.) The cost of the ending inventory $enter the cost of the ending inventory in dollars
In its first month of operations, Skysong, Inc. made three purchases of merchandise in the following sequence: (1) 650 units at $6, (2) 750 units at $8, and (3) 850 units at $9. Calculate average unit cost. (Round answer to 3 decimal places, e.g. 5.125.) Average unit cost $enter an average unit cost in dollars Compute the cost of the ending inventory under the average-cost method, assuming there are 550 units on hand at the end of the period. (Round answer to 0 decimal places, e.g. 125.) The cost of the ending inventory $enter the cost of the ending inventory in dollars
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 46E
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In its first month of operations, Skysong, Inc. made three purchases of merchandise in the following sequence: (1) 650 units at $6, (2) 750 units at $8, and (3) 850 units at $9.
Calculate average unit cost. (Round answer to 3 decimal places, e.g. 5.125.)
Average unit cost
|
$enter an average unit cost in dollars
|
Compute the cost of the ending inventory under the average-cost method, assuming there are 550 units on hand at the end of the period. (Round answer to 0 decimal places, e.g. 125.)
The cost of the ending inventory
|
$enter the cost of the ending inventory in dollars |
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