Sunland Company uses a perpetual inventory system and reports the following for the month of June. Date June 1 12 23 30 (a1) Explanation Units Unit Cost Total Cost Inventory $5 $700 Purchase 2,160 Purchase Inventory 140 360 220 270 -6 7 1,540 Calculate the weighted average cost per unit, using a perpetual inventory system. Assume a sale of 400 units occurred on June 15 for a selling price of $7 and a sale of 50 units on June 27 for $8. (Round intermediate calculations to O decimal places, eg 152 and final answers to 3 decimal places, eg. 5.125) 8
Sunland Company uses a perpetual inventory system and reports the following for the month of June. Date June 1 12 23 30 (a1) Explanation Units Unit Cost Total Cost Inventory $5 $700 Purchase 2,160 Purchase Inventory 140 360 220 270 -6 7 1,540 Calculate the weighted average cost per unit, using a perpetual inventory system. Assume a sale of 400 units occurred on June 15 for a selling price of $7 and a sale of 50 units on June 27 for $8. (Round intermediate calculations to O decimal places, eg 152 and final answers to 3 decimal places, eg. 5.125) 8
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter7: Inventories: Cost Measurement And Flow Assumptions
Section: Chapter Questions
Problem 12RE: Carla Company uses the perpetual inventory system. The following information is available for...
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Transcribed Image Text:Sunland Company uses a perpetual inventory system and reports the following for the month of June.
Date
June 1
12
23
30
(a1)
Explanation Units
Inventory
Purchase
June 1
Purchase
Inventory
June 12
$
140
$
360
220
270
Unit Cost
$5
-6
7
Calculate the weighted average cost per unit, using a perpetual inventory system. Assume a sale of 400 units occurred on June 15
for a selling price of $7 and a sale of 50 units on June 27 for $8. (Round intermediate calculations to O decimal places, eg 152 and final
answers to 3 decimal places, eg. 5.125.)
8
Total Cost
$700
2,160
1,540
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