Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

on 4 of 8 begin{tabular}{|c|c|c|c|c|} hline & No. of Units & Unit Cost & begin{tabular}{c} Issued, No. of Units end{tabular} & begin{tabular}{r} Balanc

image text in transcribed

image text in transcribed

image text in transcribed

on 4 of 8 \begin{tabular}{|c|c|c|c|c|} \hline & No. of Units & Unit Cost & \begin{tabular}{c} Issued, \\ No. of Units \end{tabular} & \begin{tabular}{r} Balanc \\ No. of Un \end{tabular} \\ \hline 2 & 1,400 & $4.02 & & \\ \hline 7 & & & 900 & \\ \hline 10 & 800 & 4.29 & & 1,30 \\ \hline 13 & & & 700 & 6 \\ \hline \begin{tabular}{l} 18 \\ 20 \end{tabular} & 1,200 & 4.42 & 500 & 1,300 \\ \hline 20 & & & 1,100 & 200 \\ \hline 23 & 1.500 & 4.56 & & 1,700 \\ \hline 26 & & & 1,000 & 700 \\ \hline \begin{tabular}{l} 28 \\ 31 \end{tabular} & 1,800 & 4.69 & & 2,500 \\ \hline 31 & & & 1,500 & 1,000 \\ \hline \end{tabular} Calculate the weighted-average cost per unit. (Round answer to 2 decimal places, eg. 276.) Weighted-average cost per unit $ Attempts: 0 of 1 used (a2). From these data compute the ending inventory on each of the following bases. Assume that perpetual inventory rec in units only. (1) First-in, first-out (FIFO). (2) Last-in, first-out (LIFO). (3) Average-cost. (Round final answers to 0 decimc 6,548.) Iinventory record is kept in dollars, and costs are computed at the time of each withdrawal, would t Ig inventory in (1), (2), and (3) above be the same? What amount would be shown as ending inventor) unit to 4 decimal places, e.g. 2.7621 and final answers to 0 decimal places, e.g. 6,548.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions

Question

1. Are my sources credible?

Answered: 1 week ago

Question

3. Are my sources accurate?

Answered: 1 week ago

Question

1. Is it a topic you are interested in and know something about?

Answered: 1 week ago