Minder, Inc., recently received a shipment of merchandise inventory. Minder maintains a perpetual inventory using unit prices
Question:
Minder, Inc., recently received a shipment of merchandise inventory. Minder maintains a perpetual inventory using unit prices including freight and cash discounts. The following information is from the purchase invoice for the shipment.
Instructions:
1. Divide the total cost by the subtotal. Round the percentage to the nearest 0.1%.
2. Calculate the adjusted unit price of each item by multiplying the percentage calculated in Instruction 1 by the unit price of the item.
3. Calculate the adjusted total cost for each item by multiplying the quantity by the adjusted unit price.
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