Waterway Inc. is a retailer operating in British Columbia. Waterway uses the perpetual inventory system. All sales returns from customers result in the goods being returned to inventory; the Inventory is not damaged. Assume that there are no credit transactions; all amounts are settled in cash. You are provided with the following information for Waterway Inc. for the month of January 2022. Date January 1 January 5 January 8 January 10 January 15 January 16 January 20 January 25 (a1) January 1 January 5 January 8 January 10 January 15 January 16 January 20 Description January 25 Beginning inventory Purchase 7 Sale Sale return Purchase Purchase return Sale Purchase $ $ $ $ $ $ Quantity $ 100 Moving-Average Cost per unit $ 139 Calculate the Moving-average cost per unit at January 1, 5, 8, 10, 15, 16, 20, & 25. (Round moving average cost per unit answers to 3 decimal places, eg. 5.251.) 111 10 55 5 88 18 Unit Cost or Selling Price $13 16 27 27 18 18 31 20
Waterway Inc. is a retailer operating in British Columbia. Waterway uses the perpetual inventory system. All sales returns from customers result in the goods being returned to inventory; the Inventory is not damaged. Assume that there are no credit transactions; all amounts are settled in cash. You are provided with the following information for Waterway Inc. for the month of January 2022. Date January 1 January 5 January 8 January 10 January 15 January 16 January 20 January 25 (a1) January 1 January 5 January 8 January 10 January 15 January 16 January 20 Description January 25 Beginning inventory Purchase 7 Sale Sale return Purchase Purchase return Sale Purchase $ $ $ $ $ $ Quantity $ 100 Moving-Average Cost per unit $ 139 Calculate the Moving-average cost per unit at January 1, 5, 8, 10, 15, 16, 20, & 25. (Round moving average cost per unit answers to 3 decimal places, eg. 5.251.) 111 10 55 5 88 18 Unit Cost or Selling Price $13 16 27 27 18 18 31 20
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter6: Accounting For Merchandising Businesses
Section: Chapter Questions
Problem 2CPP: Palisade Creek Co. is a merchandising business that uses the perpetual inventory system. The account...
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