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Assuming that the perpetual inventory method is used, calculate the inventory cost at May 31 under moving-average. (Round unit cost to 3 decimal places, e.g.
Assuming that the perpetual inventory method is used, calculate the inventory cost at May 31 under moving-average. (Round unit cost to 3 decimal places, e.g. 52.752 and final answer to 2 decimal places, e.g. 52.75.)
The following information is for the inventory of mini-kettles at Swifty Company Limited for the month of May. Units Sold Unit Price Total Date May 1 6 Units In 150 800 Unit Cost $4.40 4.20 Total $660 3,360 7 330 330 $7.20 7.40 $2,376 2,442 10 12 Transaction Balance Purchase Sale Sale Purchase Sale Purchase Sale Purchase Sale 430 4.80 2,064 210 7.60 1,596 320 5.00 1,600 15 18 22 25 30 430 7.80 3,354 530 4.60 2,438 210 7.40 1,554 $11,322 Totals 2,230 $10,122 1,510Step by Step Solution
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