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Could someone explain how to solve this problem? Thanks! Problem 6-08A al-a2 (Part Level Submission) Crane Inc. is a retailer operating in British Columbia. Crane
Could someone explain how to solve this problem? Thanks!
Problem 6-08A al-a2 (Part Level Submission) Crane Inc. is a retailer operating in British Columbia. Crane 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 Crane Inc. for the month of January 2020. Unit Cost or Selling Price Date Quantity 100 $19 January January January January January January January January Description 1 Beginning inventory 5 Purchase 8 Sale 10 Sale return 15 Purchase 16 Purchase return 20 Sale 25 Purchase (al) 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 4 January 5 4 January 8 4 January 10 4 January 15 4 January 16 January 20 4 January 25 4Step by Step Solution
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