Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Presented below is information related to Blowfish radios for the Kingbird Company for the month of July. Date Transaction Units In Unit Cost Total Units

Presented below is information related to Blowfish radios for the Kingbird Company for the month of July.

Date

Transaction

Units In

Unit Cost

Total

Units Sold

Selling Price

Total

July 1 Balance 150 $ 3.70 $ 555
6 Purchase 1,200 3.80 4,560
7 Sale 450 $ 6.80 $ 3,060
10 Sale 450 7.10 3,195
12 Purchase 600 4.10 2,460
15 Sale 300 7.20 2,160
18 Purchase 450 4.20 1,890
22 Sale 600 7.20 4,320
25 Purchase 750 4.18 3,135
30 Sale 300 7.30 2,190
Totals 3,150 $ 12,600 2,100 $ 14,925

(a1)

Calculate average cost per unit. (Round answer to 2 decimal places, e.g. 2.76.)

Weighted-average cost

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

Accounting For Inventory

Authors: Steven M. Bragg

3rd Edition

1642210145, 9781642210149

More Books

Students also viewed these Accounting questions

Question

Why is so much daytoday news coverage devoted to consumer spending?

Answered: 1 week ago