Question
Sheridan Company reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 150 $6 $900 12 Purchase
Sheridan Company reports the following for the month of June.
| Date | Explanation | Units | Unit Cost | Total Cost | ||||||
| June 1 | Inventory | 150 | $6 | $900 | ||||||
| 12 | Purchase | 450 | 7 | 3,150 | ||||||
| 23 | Purchase | 400 | 8 | 3,200 | ||||||
| 30 | Inventory | 80 | ||||||||
Assume a sale of 500 units occurred on June 16 for a selling price of $9 and a sale of 420 units on June 27 for $10.
Calculate Moving-Average unit cost for June 1, 12, 16, 23 & 27
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Computer Accounting With Peachtree Complete 2011
Authors: Carol Yacht, Peachtree Software
15th Edition
007811098X, 978-0078110986
