Sheridan, Inc. buys 800 video game CDs from a distributor who is discontinuing those games. The purchase price for the lot is $8,000. Sheridan will group the CDs into three price categories for resale, as indicated below. Group 1 2 3 Group 1 2 No. of CDs 3 $ Determine the cost per CD for each group, using the relative sales value method. (Do not round ratios for computational purposes. Round answers to 2 decimal places, e.g. 15.25.) $ 160 $ 480 160 Price per CD $5 10 Cost per CD 15

Sheridan, Inc. buys 800 video game CDs from a distributor who is discontinuing those games. The purchase price for the lot is $8,000. Sheridan will group the CDs into three price categories for resale, as indicated below. Group 1 2 3 Group 1 2 No. of CDs 3 $ Determine the cost per CD for each group, using the relative sales value method. (Do not round ratios for computational purposes. Round answers to 2 decimal places, e.g. 15.25.) $ 160 $ 480 160 Price per CD $5 10 Cost per CD 15

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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