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Splish Brothers Inc. is a retailer operating in British Columbia. Splish Brothers uses the perpetual inventory method. All sales returns from customers result in the
Splish Brothers Inc. is a retailer operating in British Columbia. Splish Brothers 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 Splish Brothers Inc. for the month of January 2020.
Date Description Quantity Unit Cost or Selling Price January Beginning inventory 150 $15 January 5 Purchase 210 18 January 8 Sale 165 28 January 10 Sale return 15 28 January 15 Purchase 83 20 January 16 Purchase return 8 20 January 20 Sale 135 32 January 25 Purchase 30 22 (a 1) Your answer is partially correct. 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. 5.252.) Moving-Average Cost per unit January 1 $ 15 January 5 $ 16.750 January 8 $ 16.750 $ January 10 16.750 $ January 15 17.670 January 16 $ 17.667 January 10 16.750 January 15 $ 17.670 January 16 $ 17.667 January 20 17.667 January 25 $ 18.180 e Textbook and MediaStep by Step Solution
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