Question
Answer the question below and show work. Thank you. Lewis Enterprises began business on April 1 and made the following four inventory purchases in April:
Answer the question below and show work. Thank you.
Lewis Enterprises began business on April 1 and made the following four inventory purchases in April: Units Purchased Unit Total Cost Cost April1 150 units $5.20 $ 780 April 9 200 units $5.85 1,170 April 15 250 units $6.40 1,600 April 26 Totals: 400 units $6.60 2,640 1,000 units $6.190 A physical count of inventory on April 30 reveals that there are 650 units on hand. Use the Average Cost method to calculate April's cost of Cost of Goods Sold. (Round your average cost per unit to two decimal places. Include two decimals in your answer even if your answer is a whole number. For example, if your answer is 1,500, enter 1,500.00. Do NOT include a $ sign.) (See your Unit 4 notes, page 5) X 4,023.50
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Financial Accounting
Authors: Robert Libby, Patricia Libby, Daniel Short, George Kanaan, M
5th Canadian edition
9781259105692, 978-1259103285
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