minersaysay22
17.03.2020 •
Mathematics
At May 1, 2020, had beginning inventory consisting of 190 units with a unit cost of $7.30. During May, the company purchased inventory as follows: 720 units at $7.30 590 units at $5.80 The company sold 1030 units during the month for $14 per unit. Sheridan uses the average cost method. The average cost per unit for May is
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Ответ:
Average cost of inventory =$6,911.3
Step-by-step explanation:
Given:
Opening inventory cost = 190 unit × $7.30 = $1,387
Purchase cost 1 = 720 unit × $7.30 = $5,256
Purchase cost 2 = 590 unit × $5.80 = $3,422
Total cost of inventory = $1,387 + $5,256 + $3,422
Total cost of inventory = $10,065
Total selling price = 1030 unit × $14
Total selling price = $14,420
Computation of average cost of inventory for 1,030 units
Average cost of inventory = Total cost of inventory × [1030/(190+720+590)]
Average cost of inventory = 10,065 × [1030/1,500]
Average cost of inventory = 6,911.3
Ответ: