1.) Vegas uses the periodic inventory system. For the current month, the beginning inventory consisted of 1,200 units that cost $12 each. During the month, the company made two purchases: 500 units at $13 each and 2,000 units at $13.50 each. Vegas also sold 2,150 units during the month. Using the average cost method, what is the amount of cost of goods sold for the month? $ Answer

2.)

Oficio Co. recorded the following data pertaining to raw material X during January 2021:

Units

Date Received Cost Issued On Hand

1/1/21 Inventory $8.00 3,200

1/11/21 Issue 1,600 1,600

1/22/21 Purchase 4,000 $9.40 5,600

The moving-average unit cost of X inventory at January 31, 2021 is $ Answer

3.) Keller Company sells product ZR101 for $25 per unit. The cost of one unit of ZR101 is $18. The estimated cost to complete a unit is $4, and the estimated cost to sell is $6. At what amount per unit should product ZR101 be reported, applying lower-of-cost-or-net realizable value?