Question
Given below is the summary of the beginning inventory and purchases of merchandise made during the month for a company. Beginning Inventory 400 units @
Given below is the summary of the beginning inventory and purchases of merchandise made during the month for a company. Beginning Inventory 400 units @ $8.20 = $3,280 May 3 Purchase 1,100 units @ $8.50 = $9,350 May 20 Purchase 300 units @ $8.60 = $2,580 Total 1,800 $15,210 Assume that a physical count of the inventory on May 31 indicated that 600 units were left in ending inventory at the end of the period. Use the periodic inventory system. Using the Weighted Average method of inventory valuation, what is average cost per unit? (Rounded to the nearest two decimal places)
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