The following information is available for Pintus Company: Item Units Unit cost Total Beginning inventory 400 $4 $1,600 First purchase 720 3,600 Second purchase 880 7 6,160 2,000 $11,360 Assume that Pintus uses a periodic inventory system and that there are 820 units left at the end of the month. Required: Assuming that the Company is using the Average-cost method: 1- Compute the average cost per unit. 2- Compute the cost of ending inventory.

The following information is available for Pintus Company: Item Units Unit cost Total Beginning inventory 400 $4 $1,600 First purchase 720 3,600 Second purchase 880 7 6,160 2,000 $11,360 Assume that Pintus uses a periodic inventory system and that there are 820 units left at the end of the month. Required: Assuming that the Company is using the Average-cost method: 1- Compute the average cost per unit. 2- Compute the cost of ending inventory.

Name: The following information is available for Pintus Company:ItemUnitsUn
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Description: The following information is available for Pintus Company:ItemUnitsUnit costTotalBeginning inventory 400$4$1,600First purchase7203,600Second purchase8806,1602,000$11,360Assume that Pintus uses a periodic inventory system and that there are 820units

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter20: Accounting For Inventory

Section: Chapter Questions

Problem 3AP

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