Concord Company's record of transactions concerning part WA6 for the month of September was as follows: Purchases September 1 (balance on hand) 3 (a1) (a2) 12 16 22 26 Your answer is correct. Weighted-average cost per unit 300 x Your answer is incorrect. 200 300 300 @ 500 300 $11.40 11.50 11.65 11.70 11.70 11.80 Sales September 4 17 27 300 11.64 400 Calculate weighted-average cost per unit. Assume that perpetual inventory records are kept in units only. (Round answer to 2 decimal places, e.g. 2.76.) 600 30 200 Compute the inventory at September 30 on each of the following bases. Assume that perpetual inventory records are kept in units only. (1) First-in, first-out (FIFO). (2) Last-in, first-out (LIFO). (3) Average-cost. (Round average cost per unit to 2 decimal places, e.g. 2.76 and final answers to 0 decimal places, e.g. 6,548.)

Concord Company's record of transactions concerning part WA6 for the month of September was as follows: Purchases September 1 (balance on hand) 3 (a1) (a2) 12 16 22 26 Your answer is correct. Weighted-average cost per unit 300 x Your answer is incorrect. 200 300 300 @ 500 300 $11.40 11.50 11.65 11.70 11.70 11.80 Sales September 4 17 27 300 11.64 400 Calculate weighted-average cost per unit. Assume that perpetual inventory records are kept in units only. (Round answer to 2 decimal places, e.g. 2.76.) 600 30 200 Compute the inventory at September 30 on each of the following bases. Assume that perpetual inventory records are kept in units only. (1) First-in, first-out (FIFO). (2) Last-in, first-out (LIFO). (3) Average-cost. (Round average cost per unit to 2 decimal places, e.g. 2.76 and final answers to 0 decimal places, e.g. 6,548.)

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 6EA: Akira Company had the following transactions for the month. Calculate the gross margin for the...

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