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In its first month of operations, Skysong, Inc. made three purchases of merchandise in the following sequence: (1) 650 units at $6, (2) 750 units
In its first month of operations, Skysong, Inc. made three purchases of merchandise in the following sequence: (1) 650 units at $6, (2) 750 units at $8, and (3) 850 units at $9.
Calculate average unit cost. (Round answer to 3 decimal places, e.g. 5.125.)
Compute the cost of the ending inventory under the average-cost method, assuming there are 550 units on hand at the end of the period. (Round answer to 0 decimal places, e.g. 125.)
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