# Monty Corp. uses a periodic inventory system reports the following for the month of June.Date Explanation Units Unit Cost Total CostJune 1 Inventory 120 \$5 \$60012 Purchases 380 6 2,28023 Purchases 210 7 1,47030 Inventory 265    A sale of 400 units occurred on June 15 for a selling price of \$8 and a sale of 45 units on June 27 for \$9.  Calculate the average cost per unit, using a perpetual inventory system. (Round answers to 3 decimal places, e.g. 5.125.)June 1 \$enter a dollar amount June 12 \$enter a dollar amount June 15 \$enter a dollar amount June 23 \$enter a dollar amount June 27 \$enter a dollar amount

Question
338 views
Monty Corp. uses a periodic inventory system reports the following for the month of June.

 Date Explanation Units 120 \$5 \$600 380 6 2,280 210 7 1,470 265

A sale of 400 units occurred on June 15 for a selling price of \$8 and a sale of 45 units on June 27 for \$9.

Calculate the average cost per unit, using a perpetual inventory system. (Round answers to 3 decimal places, e.g. 5.125.)

 June 1 \$enter a dollar amount \$enter a dollar amount \$enter a dollar amount \$enter a dollar amount \$enter a dollar amount
check_circle

Step 1

Perpetual Inventory system is a form of inventory valuation where the computation on inventory quantity, price and availability is updated on a continuous basis.

Step 2

Working Note: ...

### Want to see the full answer?

See Solution

#### Want to see this answer and more?

Solutions are written by subject experts who are available 24/7. Questions are typically answered within 1 hour.*

See Solution
*Response times may vary by subject and question.
Tagged in