Question
Flounder Corp.uses a periodic inventory system. Its records show the following for the month of May, in which73units were sold. Date Explanation Units Unit Cost
Flounder Corp.uses a periodic inventory system. Its records show the following for the month of May, in which73units were sold.
Date
Explanation
Units
Unit Cost
Total Cost
May 1Inventory30
$9
$270
15Purchase21
10
210
24Purchase39
11
429
Total90
$909
Calculate the weighted-average unit cost.(Round answer to 3 decimal places, e.g. 5.125.)
Weighted-average unit cost
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Financial Accounting An Introduction
Authors: Pauline Weetman
4th Edition
0273703404, 978-0273703402
