Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following information is for the inventory of mini-kettles at Blue Spruce Company Limited for the month of May. Units In 130 Units Sold Unit

image text in transcribedimage text in transcribed

The following information is for the inventory of mini-kettles at Blue Spruce Company Limited for the month of May. Units In 130 Units Sold Unit Price Date May 1 6 Total Unit Cost $4.20 4.20 Total $546 3,360 800 7 320 $7.20 $2,304 2,432 320 7.60 10 12 Transaction Balance Purchase Sale Sale Purchase Sale Purchase Sale Purchase Sale 450 4.60 2,070 15 250 8.00 2,000 330 4.80 1,584 18 22 450 8.00 3,600 25 550 4.40 2,420 7.40 30 Totals 250 1,590 1,850 $12,186 2,260 $9,980 * Your answer is incorrect. 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, eg, 52.752 and final answer to 2 decimal places, e.g. 52.75.) $ $ 2970.11 Ending inventory e Textbook and Media

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Sound Investing, Chapter 23 - Internal Control

Authors: Kate Mooney

1st Edition

0071719458, 9780071719452

More Books

Students also viewed these Accounting questions

Question

What resources will these tactics require?

Answered: 1 week ago

Question

What level of impact will this tactic make on the key public?

Answered: 1 week ago

Question

Have you used powerful language in your message?

Answered: 1 week ago