The Jordan Corporation uses Raw Material A in a manufacturing process. Information as tobalances on hand, purchases, and requisitions of Raw Material A is given in the following table.Raw Material ATransaction Number ofUnitsBalance ofUnitsUnit PriceDateJan. 1Beginning balance100$1.45100Jan. 24Purchased300$1.55400Feb. 8Issued80320Mar. 16Issued140180Jun. 11Purchased150$1.62330Aug. 18Sep. 6Oct. 15Issued130200Issued11090Purchased150$1.70240Dec. 29Issued140100If a perpetual inventory record of Raw Material A is maintained on a moving average basis, the140 units issued on March 16 will have a unit cost of (round to 3 decimal places):

A perpetual inventory system is a system of recording the transactions for inventory immediately at…

The Jordan Corporation uses Raw Material A in a manufacturing process. Information as to balances on hand, purchases, and requisitions of Raw Material A is given in the following table. Raw Material A Transaction Number of Units 100 Balance of Units Unit Price Date Beginning balance $1.45 100 Jan. 1 Jan. 24 Feb. 8 Mar. 16 Purchased 300 $1.55 400 Issued 80 320 Issued 140 180 Jun. 11 Purchased 150 $1.62 330 Aug. 18 Sep. 6 Oct. 15 Issued 130 200 Issued 110 90 Purchased 150 $1.70 240 Dec. 29 Issued 140 100 If a perpetual inventory record of Raw Material A is maintained on a moving average basis, the 140 units issued on March 16 will have a unit cost of (round to 3 decimal places):

The Jordan Corporation uses Raw Material A in a manufacturing process. Information as to balances on hand, purchases, and requisitions of Raw Material A is given in the following table. Raw Material A Transaction Number of Units 100 Balance of Units Unit Price Date Beginning balance $1.45 100 Jan. 1 Jan. 24 Feb. 8 Mar. 16 Purchased 300 $1.55 400 Issued 80 320 Issued 140 180 Jun. 11 Purchased 150 $1.62 330 Aug. 18 Sep. 6 Oct. 15 Issued 130 200 Issued 110 90 Purchased 150 $1.70 240 Dec. 29 Issued 140 100 If a perpetual inventory record of Raw Material A is maintained on a moving average basis, the 140 units issued on March 16 will have a unit cost of (round to 3 decimal places):

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter1: Introduction To Managerial Accounting

Section: Chapter Questions

Problem 5PA: Statement of cost of goods manufactured and income statement for a manufacturing company The...

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