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Jake Co. recorded the following data pertaining to raw material X during January 2012: Received Cost Issued On Hand 1/1/12 inventory $8.00 $3200 1/11/12 inventory
Jake Co. recorded the following data pertaining to raw material X during January 2012:
Received Cost Issued On Hand
1/1/12 inventory $8.00 $3200
1/11/12 inventory $1,600 $1,600
1/22/12 purchase $4,800 $9.60 $6400
What is the weighted-average cost per unit of material on hand at January 31, 2012, assuming that Jake Co. uses the perpetual inventory procedure.
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