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Boston Beaches, Inc., carries a line of titanium cameras. Boston Beaches, Inc., uses the average cost method and a perpetual inventory system. The sales price
Boston Beaches, Inc., carries a line of titanium cameras. Boston Beaches, Inc., uses the average cost method and a perpetual inventory system. The sales price of each camera is Company records indicate the following activity for cameras for the month of July: (Click the icon to view the records.) Read the requirements average cost per unit to the nearest cent and all other amounts to the nearest dollar. Start by entering the beginning inventory balances. Enter the transactions in chronological order, calculating new inventory on hand balances after each transaction. Once all of the transactions have been entered into the perpetual record, calculate the quantity and total cost of inventory purchased, sold, and on hand at the end of the period. (Round average co per unit to the nearest cent and all other amounts to the nearest dollar.) Avg Cost: Purchases Cost of goods sold Inventory on hand Data Table Unit Total Unit Total Unit Total Date Qty Cost Cost Qty Cost Cost Qty Cost Cost Jul 1 4 106 424 Date Item Quantity Unit Cost 7 10 110 1100 14 104 1456 Jul 1 Balance 4 $ 106 11 10 104 140 4 104 416 7 Purchase 10 $ 1101 19 141 114 1596 11 Sale 11 28 14 $ 114 19 Purchase 28 Sale 9 Total Print Done
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