In its first month of operations, Sunland Company made three purchases of merchandise in the following sequence: (1) 300 units at $4, (2) 400 units at $6, and (3) 600 units at $7. Assuming there are 200 units on hand at the end of the period. Compute the cost of the ending inventory under the average-cost method. Sunland uses a periodic inventory system. (Round the cost per unit to 2 decimal places, e.g. 8.87 and the final answer to O decimal places, e.g. 5,275.) Cost of the ending inventory $
In its first month of operations, Sunland Company made three purchases of merchandise in the following sequence: (1) 300 units at $4, (2) 400 units at $6, and (3) 600 units at $7. Assuming there are 200 units on hand at the end of the period. Compute the cost of the ending inventory under the average-cost method. Sunland uses a periodic inventory system. (Round the cost per unit to 2 decimal places, e.g. 8.87 and the final answer to O decimal places, e.g. 5,275.) Cost of the ending inventory $
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter7: Inventories
Section: Chapter Questions
Problem 4PB: The beginning inventory for Dunne Co. and data on purchases and sales for a three-month period are...
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![In its first month of operations, Sunland Company made three purchases of merchandise in the following sequence: (1) 300 units at $4,
(2) 400 units at $6, and (3) 600 units at $7. Assuming there are 200 units on hand at the end of the period.
Compute the cost of the ending inventory under the average-cost method. Sunland uses a periodic inventory system. (Round the cost
per unit to 2 decimal places, e.g. 8.87 and the final answer to O decimal places, e.g. 5,275.)
Cost of the ending inventory $](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc7429d65-0891-447d-8913-e5f221875f1d%2F2c9d08ea-2f48-488a-9b51-b84611110002%2Frcuxyyi_processed.png&w=3840&q=75)
Transcribed Image Text:In its first month of operations, Sunland Company made three purchases of merchandise in the following sequence: (1) 300 units at $4,
(2) 400 units at $6, and (3) 600 units at $7. Assuming there are 200 units on hand at the end of the period.
Compute the cost of the ending inventory under the average-cost method. Sunland uses a periodic inventory system. (Round the cost
per unit to 2 decimal places, e.g. 8.87 and the final answer to O decimal places, e.g. 5,275.)
Cost of the ending inventory $
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