Homework Answers
Calculate average cost per unit
| Date | Cost per unit |
| July 1 | 129 |
| July 6 | 129 |
| July 11 | 2288/16 = 143 |
| July 14 | 143 |
| July 21 | (10*143+16+156/26) = 151 |
| July 27 | 151 |
Calculate ending inventory
| FIFO | Moving average | LIFO | |
| Cost of ending inventory | 14*156 = 2184 | 14*151 = 2114 | (2*129+8+145+4*156) = 2042 |
3) FIFO
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Date
Units
Unit Cost
Sales Units
July
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6
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11
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21
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inventory system. During July, the company had the following
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Purchases
Date
Units
Unit Cost
Sales Units
July 1
10
$58
July 6
8
July 11
6
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July 14
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8
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inventory system. During July, the company had the following
purchases and sales.
Purchases
Date
Units
Unit Cost
Sales Units
July
1
5
$166
July
6
3
July
11
6
$180
July
14
5
July
21
7
$191
July
27
5
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$105.50.)
Average cost for each unit
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inventory system. During July, the company had the following
purchases and sales.
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Date
Units
Unit Cost
Sales Units
July 1
10
$58
July 6
8
July 11
6
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July 14
6
July 21
8
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July 27
7
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system using (1) FIFO, (2) moving-average, and (3) LIFO.
(For calculation and answers purpose round unit costs
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