Question
Cullumber Company uses a perpetual inventory system reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory
Cullumber Company uses a perpetual inventory system reports the following for the month of June.
| Date | Explanation | Units | Unit Cost | Total Cost | ||||
|---|---|---|---|---|---|---|---|---|
| June 1 | Inventory | 130 | $6 | $780 | ||||
| 12 | Purchases | 390 | 7 | 2,730 | ||||
| 23 | Purchases | 230 | 8 | 1,840 | ||||
| 30 | Inventory | 260 |
(a)
Calculate the average cost per unit, using a perpetual inventory system. Assume a sale of 430 units occurred on June 15 for a selling price of $9 and a sale of 60 units on June 27 for $10.
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Managerial Accounting Tools for business decision making
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
6th Edition
978-0470477144, 1118096894, 9781118214657, 470477148, 111821465X, 978-1118096895
