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The following information is for the inventory of mini-kettles at Flint Company Limited for the month of May. Date Transaction Units In Unit Cost Total
The following information is for the inventory of mini-kettles at Flint Company Limited for the month of May.
Date | Transaction | Units In | Unit Cost | Total | Units Sold | Unit Price | Total | ||||||||||||||
May 1 | Balance | 100 | $4.40 | $440 | |||||||||||||||||
6 | Purchase | 850 | 4.40 | 3,740 | |||||||||||||||||
7 | Sale | 330 | $7.00 | $2,310 | |||||||||||||||||
10 | Sale | 330 | 7.60 | 2,508 | |||||||||||||||||
12 | Purchase | 440 | 4.80 | 2,112 | |||||||||||||||||
15 | Sale | 250 | 7.80 | 1,950 | |||||||||||||||||
18 | Purchase | 350 | 5.00 | 1,750 | |||||||||||||||||
22 | Sale | 440 | 7.60 | 3,344 | |||||||||||||||||
25 | Purchase | 510 | 4.60 | 2,346 | |||||||||||||||||
30 | Sale | 250 | 7.60 | 1,900 | |||||||||||||||||
Totals | 2,250 | $10,388 | 1,600 | $12,012 |
Assuming that the perpetual inventory method is used, calculate the inventory cost at May 31 under moving-average. (Round unit cost to 3 decimal places, e.g. 52.752 and final answer to 2 decimal places, e.g. 52.75.)
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