A company began January with 9 , 0 0 0 units of its principal product. The cost
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Question:
A company began January with units of its principal product. The cost of each unit is $ Inventory transactions for the month of January are as follows:
Date of Purchase Purchases
Units Unit CostFootnote asterisk Total Cost
January $ $
January
Totals $
Footnote asterisk Includes purchase price and cost of freight.
Sales
Date of Sale Units
January
January
January
Total
units were on hand at the end of the month.
Calculate January's ending inventory and cost of goods sold for the month using Average cost, perpetual system.
Note: Round average cost per unit to decimal places. Enter sales with a negative sign.
Related Book For
Intermediate Accounting
ISBN: 978-1260481952
10th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas
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