Ask Question
22 May, 19:27

Current Attempt in Progress In its first month of operations, Coronado Industries made three purchases of merchandise in the following sequence: (1) 500 units at $6, (2) 600 units at $7, and (3) 700 units at $9. Calculate average unit cost. (Round answer to 3 decimal places, e. g. 5.125.) Average unit cost $enter an average unit cost in dollars eTextbook and Media List of Accounts Compute the cost of the ending inventory under the average-cost method, assuming there are 400 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

+2
Answers (1)
  1. 22 May, 21:23
    0
    Instructions are listed below

    Explanation:

    Giving the following information:

    Coronado Industries made three purchases of merchandise in the following sequence:

    (1) 500 units at $6 = $3,000

    (2) 600 units at $7 = $4,200

    (3) 700 units at $9 = $6,300

    Average cost = total cost / total units = $13,500/1800 = $7.5

    Inventory = 400 units*7.5 = $3,000
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Current Attempt in Progress In its first month of operations, Coronado Industries made three purchases of merchandise in the following ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers