At August 1 of the current year, there are 4,000 units at $15.10 each of merchandise inventory. During August, the following transactions occurred: August 2, purchased 5,000 units at $15.15 each; August 5, sold 4,000 units; August 8, sold 2,600 units; August 12, purchased 6,000 units at $15.20 each; August 16, sold 4,200 units; August 20, sold 3,800 units; August 24, purchased 6,000 units at $15.25 each; August 28, sold 2,200 units; and August 31, sold 3,600 units. Under the moving average using perpetual inventory system, what is the average unit cost of inventory at August 31? $15.25 $15.26 $15.16 $15.24

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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At August 1 of the current year, there are 4,000 units at $15.10 each of merchandise inventory. During August, the following transactions occurred: August 2, purchased 5,000 units at $15.15 each; August 5, sold 4,000 units; August 8, sold 2,600 units; August 12, purchased 6,000 units at $15.20 each; August 16, sold 4,200 units; August 20, sold 3,800 units; August 24, purchased 6,000 units at $15.25 each; August 28, sold 2,200 units; and August 31, sold 3,600 units. Under the moving average using perpetual inventory system, what is the average unit cost of inventory at August 31?

$15.25

$15.26

$15.16

$15.24

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