Question
Bramble Inc. is a retailer operating in British Columbia. Bramble uses the perpetual inventory method. All sales returns from customers result in the goods being
Bramble Inc. is a retailer operating in British Columbia. Bramble uses the perpetual inventory method. All sales returns from customers result in the goods being returned to inventory; the inventory is not damaged. Assume that there are no credit transactions; all amounts are settled in cash. You are provided with the following information for Bramble Inc. for the month of January 2020.
Date | Description | Quantity | Unit Cost or Selling Price | ||||||
January | 1 | Beginning inventory | 100 | $21 | |||||
January | 5 | Purchase | 148 | 24 | |||||
January | 8 | Sale | 115 | 36 | |||||
January | 10 | Sale return | 10 | 36 | |||||
January | 15 | Purchase | 55 | 26 | |||||
January | 16 | Purchase return | 5 | 26 | |||||
January | 20 | Sale | 93 | 41 | |||||
January | 25 | Purchase | 26 | 28 |
Calculate the Moving-average cost per unit at January 1, 5, 8, 10, 15, 16, 20, & 25. (Round answers to 3 decimal places, e.g. 5.251.)
Moving-Average Cost per unit | ||
January 1 | $ | |
January 5 | $ | |
January 8 | $ | |
January 10 | $ | |
January 15 | $ | |
January 16 | $ | |
January 20 | $ | |
January 25 | $ |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started