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Swifty Inc. is a retailer operating in British Columbia. Swifty uses the perpetual inventory method. All sales returns from customers result in the goods being

Swifty Inc. is a retailer operating in British Columbia. Swifty 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 Swifty Inc. for the month of January 2020.

Date

Description

Quantity

Unit Cost or Selling Price

January 1 Beginning inventory 100 $13
January 5 Purchase 149 16
January 8 Sale 114 25
January 10 Sale return 10 25
January 15 Purchase 55 18
January 16 Purchase return 5 18
January 20 Sale 95 29
January 25 Purchase 18 20

(a1)

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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 $13

January 5 $14.795

January 8 $14.795

January 10 $14.795

January 15 $15.677

January 16 $

January 20 $

January 25 $

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