Homework Answers
The records are maintained after each transaction under perpetual system
Average cost per unit = Total cost of goods available/Total units
Hence, average cost per unit is calculated as follows:
June 1 = 650/130 = $5
June 12 = (650+2220)/(130+370) = $5.74 per unit
June 15 = $5.74 since sale will take place at average cost
June 23 = (5.74*150 + 1400)/(150+200) = $6.46
June 27 = $6.46
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headlands industries uses a periodic inventory system reports
the following for the month of June.
calculate...
Headlands Industries uses a periodic inventory system and reports the following for the month of June....
Headlands Industries uses a periodic inventory system and
reports the following for the month of June.
Date
Explanation
Units
Unit Cost
Total Cost
June 1
Inventory
120
$5
$ 600
12
Purchases
390
6
2,340
23
Purchases
190
7
1,330
30
Inventory
235
Calculate weighted-average unit cost. (Round answer
to 3 decimal places, e.g. 5.125.)
Weighted-average unit cost
$enter a weighted-average unit cost in dollars
Compute the cost of the ending inventory and the cost of goods
sold under FIFO,...
Exercise 6-07 al-a2 Buffalo Industries uses a periodic inventory system and reports the following for the month of June...
Exercise 6-07 al-a2 Buffalo Industries uses a periodic inventory system and reports the following for the month of June. Unit Cost Date June 1 12 Units 130 Total Cost $ 650 2,220 1,575 Inventory Purchases Purchases Inventory 370 225 250 Calculate weighted average unit cost. (Round answer to 3 decimal places, e.g. 5.125.) Weighted average unit cost. Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost. (Round answers to o decimal...
Sandhill Co. uses a perpetual inventory system reports the following for the month of June. Unit...
Sandhill Co. uses a perpetual inventory system reports the following for the month of June. Unit Cost Date Explanation Units Total Cost $5 $575 June 1 Inventory 115 12 Purchases 345 2,070 6 Purchases 23 190 1,330 7 30 200 Inventory LLIE! Calculate the average cost per unit, using a perpetual inventory system. (Round answers to 3 decimal places, e.g. 5.125.) $ June 1 $ June 12 $ June 15 $ June 23 $ June 27 eTextbook and Media Calculate...
Teal Mountain Inc. uses a periodic inventory system and reports the following for the month of...
Teal Mountain Inc. uses a periodic inventory system and reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 130 $650 12 Purchases 370 2,220 Purchases 200 7 1,400 Inventory 240 Calculate weighted average unit cost. (Round answer to 3 decimal places, e.g. 5.125.) Weighted-average unit cost $ e Textbook and Media Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost. (Round answers...
Current Attempt in Progress Buffalo Industries uses a periodic inventory system and reports the following for...
Current Attempt in Progress Buffalo Industries uses a periodic inventory system and reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 130 $5 $650 12 Purchases 370 2,220 Purchases 225 1,575 Inventory 250 Calculate weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125.) Weighted average unit cost $ e Textbook and Media Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and...
Show your calculations. Riverbed Corp uses a perpetual inventory system reports the following for the month...
Show your calculations.
Riverbed Corp uses a perpetual inventory system reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 150 $750 12 Purchases 2,100 350 240 Purchases 1,680 Inventory 260 - Your answer is partially correct. Calculate the average cost per unit, using a perpetual inventory system. Assume a sale of 420 units occurred on June 15 for a selling price of $8 and a sale of 60 units on June...
L Exercise 6-14 a-b1 (Part Level Submission) Monty Corp. uses a periodic inventory system reports the...
L Exercise 6-14 a-b1 (Part Level Submission) Monty Corp. uses a periodic inventory system reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 120 Purchases 380 Purchases 210 30 Inventory 265 12 23 A sale of 400 units occurred on June 15 for a selling price of $8 and a sale of 45 units on June 27 for $9. (a) Calculate the average cost per unit, using a perpetual inventory system....
Riverbed Corp reports the following for the month of June. Date Explanation Units Unit Cost Total Cost $5 $550 J...
Riverbed Corp reports the following for the month of June. Date Explanation Units Unit Cost Total Cost $5 $550 June 1 Inventory 110 Purchases 334 12 6 2,004 23 Purchases 203 7 1,421 30 Inventory 212 A sale of 382 units occurred on June 15 for a selling price of $8 and a sale of 53 units on June 27 for $9 Calculate the average cost per unit, using a perpetual inventory system. (Round answers to 3 decimal places, eg....
Headlands Industries uses a periodic inventory system. Its records show the following for the month of...
Headlands Industries uses a periodic inventory system. Its
records show the following for the month of May, in which 77 units
were sold.
Date
Explanation
Units
Unit Cost
Total Cost
May 1
Inventory
34
$10
$340
15
Purchase
26
11
286
24
Purchase
40
12
480
Total
100
$1,106
Calculate the weighted-average unit cost. (Round
answer to 3 decimal places, e.g. 5.125.)
Weighted-average unit cost
$Enter the Weighted-average unit cost in dollars
LINK TO TEXT
LINK TO VIDEO
Calculate the...
Question 2 View Policies Current Attempt in Progress Marin Inc. uses a perpetual inventory system reports...
Question 2 View Policies Current Attempt in Progress Marin Inc. uses a perpetual inventory system reports the following for the month of June. PLUS Date Explanation Units Unit Cost Total Cost June 1 Inventory $520 brary 130 390 12 Purchases 5 1,950 lum Purchases 1,320 30 Inventory Calculate the average cost per unit, using a perpetual inventory system. Assume a sale of 450 units occurred on June 15 for a selling price of $7 and a sale of 55 units...
Headlands Industries uses a periodic inventory system and
reports the following for the month of June.
Date
Explanation
Units
Unit Cost
Total Cost
June 1
Inventory
120
$5
$ 600
12
Purchases
390
6
2,340
23
Purchases
190
7
1,330
30
Inventory
235
Calculate weighted-average unit cost. (Round answer
to 3 decimal places, e.g. 5.125.)
Weighted-average unit cost
$enter a weighted-average unit cost in dollars
Compute the cost of the ending inventory and the cost of goods
sold under FIFO,...
Exercise 6-07 al-a2 Buffalo Industries uses a periodic inventory system and reports the following for the month of June. Unit Cost Date June 1 12 Units 130 Total Cost $ 650 2,220 1,575 Inventory Purchases Purchases Inventory 370 225 250 Calculate weighted average unit cost. (Round answer to 3 decimal places, e.g. 5.125.) Weighted average unit cost. Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost. (Round answers to o decimal...
Sandhill Co. uses a perpetual inventory system reports the following for the month of June. Unit Cost Date Explanation Units Total Cost $5 $575 June 1 Inventory 115 12 Purchases 345 2,070 6 Purchases 23 190 1,330 7 30 200 Inventory LLIE! Calculate the average cost per unit, using a perpetual inventory system. (Round answers to 3 decimal places, e.g. 5.125.) $ June 1 $ June 12 $ June 15 $ June 23 $ June 27 eTextbook and Media Calculate...
Teal Mountain Inc. uses a periodic inventory system and reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 130 $650 12 Purchases 370 2,220 Purchases 200 7 1,400 Inventory 240 Calculate weighted average unit cost. (Round answer to 3 decimal places, e.g. 5.125.) Weighted-average unit cost $ e Textbook and Media Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost. (Round answers...
Current Attempt in Progress Buffalo Industries uses a periodic inventory system and reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 130 $5 $650 12 Purchases 370 2,220 Purchases 225 1,575 Inventory 250 Calculate weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125.) Weighted average unit cost $ e Textbook and Media Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and...
Show your calculations.
Riverbed Corp uses a perpetual inventory system reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 150 $750 12 Purchases 2,100 350 240 Purchases 1,680 Inventory 260 - Your answer is partially correct. Calculate the average cost per unit, using a perpetual inventory system. Assume a sale of 420 units occurred on June 15 for a selling price of $8 and a sale of 60 units on June...
L Exercise 6-14 a-b1 (Part Level Submission) Monty Corp. uses a periodic inventory system reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 120 Purchases 380 Purchases 210 30 Inventory 265 12 23 A sale of 400 units occurred on June 15 for a selling price of $8 and a sale of 45 units on June 27 for $9. (a) Calculate the average cost per unit, using a perpetual inventory system....
Riverbed Corp reports the following for the month of June. Date Explanation Units Unit Cost Total Cost $5 $550 June 1 Inventory 110 Purchases 334 12 6 2,004 23 Purchases 203 7 1,421 30 Inventory 212 A sale of 382 units occurred on June 15 for a selling price of $8 and a sale of 53 units on June 27 for $9 Calculate the average cost per unit, using a perpetual inventory system. (Round answers to 3 decimal places, eg....
Headlands Industries uses a periodic inventory system. Its
records show the following for the month of May, in which 77 units
were sold.
Date
Explanation
Units
Unit Cost
Total Cost
May 1
Inventory
34
$10
$340
15
Purchase
26
11
286
24
Purchase
40
12
480
Total
100
$1,106
Calculate the weighted-average unit cost. (Round
answer to 3 decimal places, e.g. 5.125.)
Weighted-average unit cost
$Enter the Weighted-average unit cost in dollars
LINK TO TEXT
LINK TO VIDEO
Calculate the...
Question 2 View Policies Current Attempt in Progress Marin Inc. uses a perpetual inventory system reports the following for the month of June. PLUS Date Explanation Units Unit Cost Total Cost June 1 Inventory $520 brary 130 390 12 Purchases 5 1,950 lum Purchases 1,320 30 Inventory Calculate the average cost per unit, using a perpetual inventory system. Assume a sale of 450 units occurred on June 15 for a selling price of $7 and a sale of 55 units...
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