Homework Answers
The answer for moving average unit cost for June 23 and 27 is $6.536 per unit. Calculations are shown below.
Note: The moving average unit cost does not change from June 23 to 27 since there is no purchase transacted in between those days. .
| Day | Transaction | Units | Per unit cost | Calculation | Moving average unit cost (A) | Ending units balance (B) | Ending value of inventory (A*B) |
| 1 | Purchase | 200 | 5 | = 1000/200 | 5 | 200 | $ 1,000.00 |
| 12 | Purchase | 400 | 6 | =((200*5)+(400*6))/(200+400) | 5.667 | 600 | $ 3,400.00 |
| 15 | Sale | -440 | 5.667 | 5.667 | 160 | $ 906.67 | |
| 23 | Purchase | 300 | 7 | =((160*5.667)+(300*7))/(160+300) | 6.536 | 460 | $ 3,006.72 |
| 27 | Sale | -360 | 6.536 | 6.536 | 100 | $ 653.63 | |
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Date
Explanation
Units
Unit Cost
Total Cost
June 1
Inventory
200
$5
$1,000
12
Purchase
400
6
2,400
23
Purchase
300
7
2,100
30
Inventory
100
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Units
Unit Cost
Total Cost
June 1
Inventory
210
$8
$ 1,680
12
Purchase
430
9
3,870
23
Purchase
360
10
3,600
30
Inventory
200
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Units
Unit Cost
Total Cost
June 1
Inventory
250
$7
$ 1,750
12
Purchase
400
8
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23
Purchase
350
9
3,150
30
Inventory
150
(a)
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FIFO
LIFO
Cost of the ending inventory
$
$
Cost of goods sold
$
$
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Purchase
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23
Purchase
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Submission)
Sheffield Company reports the following for the month of
June.
Units
Unit Cost
Total Cost
June 1
Inventory
210
$8
$ 1,680
12
Purchase
430
9
3,870
23
Purchase
360
10
3,600
30
Inventory
200
(a1)
Your answer is correct.
Calulate Weighted Average Unit Cost. (Round answer to 2
decimal places, e.g. 15.25.)
Weighted Average Unit Cost
$
Click if you would like to
Show Work for this question:
Open Show Work
SHOW...
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Crane Company uses a periodic system reports the following for the
month of June.
Units
Unit Cost
Total Cost
June 1
Inventory
250
$7
$ 1,750
12
Purchase
400
8
3,200
23
Purchase
350
9
3,150
30
Inventory
150
(a)
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