Question
Marigold Company's inventory records show the following data: Units Unit Cost Inventory, January 1 10000 $9.20 Purchases: June 18 8000 8.00 November 8 6000 6.00
Marigold Company's inventory records show the following data:
| Units | Unit Cost | ||
|---|---|---|---|
| Inventory, January 1 | 10000 | $9.20 | |
| Purchases: June 18 | 8000 | 8.00 | |
| November 8 | 6000 | 6.00 |
A physical inventory on December 31 shows 4300 units on hand. Marigold sells the units for $11 each. The company has an effective tax rate of 20%. Marigold uses the periodic inventory method. The weighted-average cost per unit is
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Accounting For Non Accounting Students
Authors: John R. Dyson
7th Edition
0273709224, 9780273709220
