Question
Swifty Company had a beginning inventory on January 1 of 200 units of Product 4-18-15 at a cost of $20 per unit. During the year,
Swifty Company had a beginning inventory on January 1 of 200 units of Product 4-18-15 at a cost of $20 per unit. During the year, the following purchases were made.
| Mar. 15 | 430 units | at | $22 | Sept. 4 | 300 units | at | $24 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| July 20 | 220 units | at | $23 | Dec. 2 | 100 units | at | $29 |
1,040 units were sold. Swifty Company uses a periodic inventory system.
Calculate average cost per unit. (Round answer to 3 decimal places, e.g. 1.250.)
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Top Accounting And Auditing Issues For 2021 CPE Course
Authors: CCH Tax Law Editors
1st Edition
0808055348, 978-0808055341
