Ivanhoe Company uses a perpetual inventory system and reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 130 $5 $650 12 Purchase 370 6 2,220 23 Purchase 200 7 1,400 30 Inventory 250 (a1) Calculate the weighted-average cost per unit, using a perpetual inventory system. Assume a sale of 400 units occurred on June 15 for a selling price of $8 and a sale of 50 units on June 27 for $9. (Round intermediate calculations to O decimal places, eg. 152 and final answers to 3 decimal places, eg. 5.125.) June 1 $ June 12 $ June 15 $ June 23 $ June 27 $

Ivanhoe Company uses a perpetual inventory system and reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 130 $5 $650 12 Purchase 370 6 2,220 23 Purchase 200 7 1,400 30 Inventory 250 (a1) Calculate the weighted-average cost per unit, using a perpetual inventory system. Assume a sale of 400 units occurred on June 15 for a selling price of $8 and a sale of 50 units on June 27 for $9. (Round intermediate calculations to O decimal places, eg. 152 and final answers to 3 decimal places, eg. 5.125.) June 1 $ June 12 $ June 15 $ June 23 $ June 27 $

Name: None Ivanhoe Company uses a perpetual inventory system and reports the
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Description: None Ivanhoe Company uses a perpetual inventory system and reports the following for the month of June.DateExplanation UnitsUnit CostTotal CostJune 1Inventory130$5$65012Purchase37062,22023Purchase20071,40030Inventory250(a1)Calculate the weighted-aver

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter7: Inventories: Cost Measurement And Flow Assumptions

Section: Chapter Questions

Problem 12RE: Carla Company uses the perpetual inventory system. The following information is available for...

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