Question

Exercise 6-15 (Part Level Submission) Pharoah Company sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Pharoah Company's purchases of EZslide snowboards during September. During the same month, 106 EZslide snowboards were sold. Date Explanation Units Unit Cost $120 Sept. 1 Inventory 14 Total Cost $1,680 5,412 6,820 Purchases 44 123 Sept. 12 Sept. 19 Sept. 26 Purchases 55 124 Purchases 25 125 3,125 Totals 138 $17,037 Additional data regarding the company's sales of EZslide snowboards are provided below. Assume that Pharoah Company uses a perpetual inventory system. Date Units Sale Sept. 5 Sept. 16 Sale Sept. 29 Sale 51 Totals 106

Calculate the average unit cost for the following dates:

September 1

September 5

September 12

September 16

September 19

September 26

September 29

Answer 1

Page No ① Inventory Answer Computation of ending inventory cours onder conghted average on the Pespecial invertery syetem - Beginning Purchase Cost of goods sold Ending inventory pate al rate Amount Gily Rate Ammoont Goty Rate Aneun aty Rate Amount Sep-114 120 $1680 00 0100 145.120 $1680 Sep-5 14 100 & 10olo 8 $120 $960.6 120 $ 120 sep-12 6 120 $5418 0 50 122.64$6132 Sep-16 50 12.64 $ 6132 0 0 47 194.64 $5164128 3 12264 367-92 Sep-19.3 122.64 $367.92 55 $124 6820 0 0 58 123.93 7187.92 Sep-26 58 123.93 7187.94 25 125 3125 | 123.93 1363-23 72 124.30 8949.71 Sep 29 721124.30 8949,41 Ololo 51 124:30 6 339.3 al 124-30 2610-3 114 14426.61 21 2610 Date Sop! Sep 5 Sep 12 sep 16 sep 19 Scp 26 Sep 29 Average unit cash 120 120 122.64 102.64 123.93 124.30 124.30