You are provided with the following information for Bonita Inc. for the month ended June 30, 2020. Bonita uses the periodic method for inventory. Unit Cost or Date Description Quantity Selling Price June 1 Beginning inventory 41 $39 June 4 Purchase 138 42 June 10 Sale 113 73 June 11 Sale return 13 73 June 18 Purchase 52 45 June 18 Purchase return 45 June 25 Sale 62 79 June 28 Purchase 33 50 (a1) Calculate cost per unit. (Round answer to 2 decimal places, e.g. 5.25.) Weighted-average cost per unit $
You are provided with the following information for Bonita Inc. for the month ended June 30, 2020. Bonita uses the periodic method for inventory. Unit Cost or Date Description Quantity Selling Price June 1 Beginning inventory 41 $39 June 4 Purchase 138 42 June 10 Sale 113 73 June 11 Sale return 13 73 June 18 Purchase 52 45 June 18 Purchase return 45 June 25 Sale 62 79 June 28 Purchase 33 50 (a1) Calculate cost per unit. (Round answer to 2 decimal places, e.g. 5.25.) Weighted-average cost per unit $
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter6: Cost Of Goods Sold And Inventory
Section: Chapter Questions
Problem 6MCQ: Refer to the information for Morgan Inc. above. If Morgan uses a perpetual inventory system, what is...
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