FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Transcribed Image Text:urrent ALLE
empt mFIogress
Flint Corporation uses a perpetual inventory system reports the following for the month of June.
Date
Explanation
Units
Unit Cost
Total Cost
June 1
Inventory
120
$6
$720
12
Purchases
360
2,520
23
Purchases
240
1,920
30
Inventory
250
I
Calculate the average cost per unit, using a perpetual inventory system. Assume a sale of 420 units occurred on June 15
for a selling price of $9 and a sale of 50 units on June 27 for $10. (Round answers to 3 decimal places, e.g. 5.125.)
June 1
%24
June 12 $
June 15 $
7:59
acer
7.
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