In its first month of operations, Sunland Company made three purchases of merchandise in the following sequence: (1) 300 units at $4, (2) 400 units at $6, and (3) 600 units at $7. Assuming there are 200 units on hand at the end of the period. Compute the cost of the ending inventory under the average-cost method. Sunland uses a periodic inventory system. (Round the cost per unit to 2 decimal places, e.g. 8.87 and the final answer to O decimal places, e.g. 5,275.) Cost of the ending inventory $

In its first month of operations, Sunland Company made three purchases of merchandise in the following sequence: (1) 300 units at $4, (2) 400 units at $6, and (3) 600 units at $7. Assuming there are 200 units on hand at the end of the period. Compute the cost of the ending inventory under the average-cost method. Sunland uses a periodic inventory system. (Round the cost per unit to 2 decimal places, e.g. 8.87 and the final answer to O decimal places, e.g. 5,275.) Cost of the ending inventory $

Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter7: Inventories

Section: Chapter Questions

Problem 4PB: The beginning inventory for Dunne Co. and data on purchases and sales for a three-month period are...

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