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Oriole Inc. uses a periodic inventory system. Its records show the following for the month of May, in which 70 units were sold. Date May 1 15 24 (a1) Explanation Inventory Purchase Purchase Total Units Unit Cost 37 24 39 100 Weighted-average unit cost $8 $ 9 10 Total Cost $296 216 390 Calculate the weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125.) $902

Oriole Inc. uses a periodic inventory system. Its records show the following for the month of May, in which 70 units were sold. Date May 1 15 24 (a1) Explanation Inventory Purchase Purchase Total Units Unit Cost 37 24 39 100 Weighted-average unit cost $8 $ 9 10 Total Cost $296 216 390 Calculate the weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125.) $902

Intermediate Accounting: Reporting And Analysis
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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Oriole Inc. uses a periodic inventory system. Its records show the following for the month of May, in which 70 units were sold. Date May 1 15 24 (a1) Explanation Inventory Purchase Purchase Total Units 37 24 39 100 Weighted-average unit cost Unit Cost $ $8 9 10 Total Cost $296 216 390 Calculate the weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125.) $902
Transcribed Image Text:Oriole Inc. uses a periodic inventory system. Its records show the following for the month of May, in which 70 units were sold. Date May 1 15 24 (a1) Explanation Inventory Purchase Purchase Total Units 37 24 39 100 Weighted-average unit cost Unit Cost $ $8 9 10 Total Cost $296 216 390 Calculate the weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125.) $902
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