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Problem 6-08A al-a2 (Part Level Submission) Sheffield Inc. is a retailer operating in British Columbia. Sheffield uses the perpetual inventory method. All sales returns from
Problem 6-08A al-a2 (Part Level Submission) Sheffield Inc. is a retailer operating in British Columbia. Sheffield uses the perpetual inventory method. All sales returns from customers result in the goods being returned to inventory; the inventory is not damaged. Assume that there are no credit transactions; all amounts are settled in cash. You are provided with the following information for Sheffield Inc. for the month of January 2020. Date Quantity 100 Unit Cost or Selling Price $19 22 140 113 30 Description Beginning inventory Purchase Sale Sale return Purchase Purchase return Sale 10 January 1 January 5 January 8 January 10 January 15 January 16 January 20 January 25 30 55 24 5 24 87 36 Purchase 24 26 Calculate the Moving-average cost per unit at January 1, 5, 8, 10, 15, 16, 20, & 25. (Round answers to 3 decimal places, e.g. 5.251.) Moving-Average Cost per unit January 1 19 January 5 20.8 January 8 20.8 January 10 20.8 January 15 21.68 January 16 21.621 X January 20 21.621 January 25 22.468 Click if you would like to Show Work for this question: Open Show Work
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