FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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In its first month of operations, Crane Company made three purchases of merchandise in the following sequence: (1) 380 units at $7, (2) 480 units at $9, and (3) 580 units at $10.
 
 
 
 
 
Calculate average unit cost. (Round answer to 3 decimal places, e.g. 5.125.)

Average unit cost
  $enter an average unit cost in dollars
 
 
 

SHOW LIST OF ACCOUNTS
LINK TO TEXT
 
 
 
Compute the cost of the ending inventory under the average-cost method, assuming there are 280 units on hand at the end of the period. (Round answer to 0 decimal places, e.g. 125.)

The cost of the ending inventory
  $enter the cost of the ending inventory in dollars
 
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