1) Average unit cost = [(290 × $4) + (390 × $6) + (490 × $7)] / (290 + 390 + 490) = $6,930 / 1,170 = $5.923
2) Cost of the ending inventory = 190 units × $5.923 = $1,125
In its first month of operations, Skysong, Inc. made three purchases of merchandise in the following...
In its first month of operations, Tamarisk, Inc. made three purchases of merchandise in the following sequence: (1) 500 units at $8, (2) 600 units at $9, and (3) 700 units at $11. Calculate average unit cost. (Round answer to 3 decimal places, e.g. 5.125.) Average unit cost $enter an average unit cost in dollars Show List of Accounts Compute the cost of the ending inventory under the average-cost method, assuming there are 400 units on hand at the end...
In its first month of operations, Sheffield Corp. made three purchases of merchandise in the following sequence: (1) 350 units at $8, (2) 400 units at $9, and (3) 500 units at $10. Calculate average unit cost. (Round answer to 3 decimal places, e.g. 5.125.) Average unit cost $ eTextbook and Media List of Accounts Compute the cost of the ending inventory under the average-cost method, assuming there are 250 units on hand at the end of the period. (Round...
In its first month of operations, Blue Spruce Corp. made three purchases of merchandise in the following sequence: (1) 350 units at $3, (2) 400 units at $5, and (3) 500 units at $7. Calculate average unit cost. (Round answer to 3 decimal places, e.g. 5.125.) Average unit cost $enter an average unit cost in dollars Compute the cost of the ending inventory under the average-cost method, assuming there are 250 units on hand at the end of the period....
In its first month of operations, Bethke Company made three purchases of merchandise in the following sequence: (1) 120 units at $9, (2) 400 units at $10, and (3) 115 units at $11. Calculate the average unit cost. (Round answer to 2 decimal places, e.g. 15.25.) Average unit cost $ Compute the cost of the ending inventory under the average-cost method, assuming there are 360 units on hand. (Round answer to 0 decimal places, e.g. 1,250.) The cost of the...
In its first month of operations, Sandhill Co. made three purchases of merchandise in the following sequence: 200 units at $15; 250 units at $14; and 300 units at $13. There are 490 units on hand at the end of the period. Sandhill uses a periodic inventory system. Calculate the cost of the ending inventory and cost of goods sold under FIFO. FIFO Ending inventory " Cost of goods sold " Calculate the cost of the ending inventory and cost...
Question 1 In its first month of operations, Blue Company made three purchases of merchandise in the following sequence: (1) 283 units at NT$174, (2) 409 units at NT$189, and (3) 188 units at NT$207. Blue uses a periodic inventory system. Assuming there are 468 units on hand, compute the cost of the ending inventory under the FIFO method The cost of the ending inventory NTSs LINK TO TEXT Assuming there are 468 units on hand, compute the cost of...
You have the following information for Skysong, Inc. for the month ended October 31, 2022. Skysong uses a periodic method for inventory. Date Description Units Unit Cost or Selling Price Oct. 1 Oct. 9 Oct. 11 Oct. 17 Oct. 22 Beginning inventory Purchase Sale Purchase Sale Oct. 25 Purchase Oct. 29 Sale Calculate the weighted-average cost. (Round answer to 3 decimal places, eg. 5.125.) Weighted average cost per unit $ 35.833 eTextbook and Media List of Accounts Calculate ending inventory,...
In its first month of operations, Panther Company made three purchases of merchandise in the following sequence: 200 units at $8; 250 units at $7; and 300 units at $6. There are 400 units on hand at the end of the period. Panther uses a periodic inventory system. Calculate the cost of the ending inven- tory and cost of goods sold under (a) FIFO, and (b) average. (Hint: Round to two decimal places for the average cost per unit.)
Question 1 View Policies Current Attempt in Progress In its first month of operations, Blossom Company made three purchases of merchandise in the following sequence: (1) 350 units at $5, (2) 400 units at $7, and (3) 500 units at $8. Calculate average unit cost. (Round answer to 3 decimal places, e.g. 5.125.) Average unit cost $ e Textbook and Media List of Accounts Compute the cost of the ending inventory under the average-cost method, assuming there are 250 units...
In its first month of operations, Ivanhoe Company made three purchases of merchandise in the following sequence: (1) 300 units at $7, (2) 360 units at $8, and (3) 220 units at $9. Assuming there are 410 units on hand, compute the cost of the ending inventory under the FIFO method and LIFO method. Ivanhoe uses a periodic inventory system. What is FIFO and LIFO Ending Inventory? Question 5 0/1 View Policies Show Attempt History Current Attempt in Progress X...