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Lambert Center began operations on July 1. It uses a perpetual inventory system. During July, the company had the following purchases and sales. Purchases Date
Lambert Center began operations on July 1. It uses a perpetual inventory system. During July, the company had the following purchases and sales.
Purchases | ||||||
Date | Units | Unit Cost | Sales Units | |||
July 1 | 7 | $62 | ||||
July 6 | 5 | |||||
July 11 | 3 | $66 | ||||
July 14 | 3 | |||||
July 21 | 4 | $71 | ||||
July 27 (3 sales units on 7/27) 1) calculate the average cost for each unit on each given day: July 14? July 21? July 27? What is the average cost for each unit on these dates? |
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