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Remsen Company Inc. had a beginning inventory of 123 units of Product MLN at a cost of $10 per unit. During the year, purchases were:
Feb. 20 736 @ $11 Aug. 12 490 @ $13
May 5 613 @ $12 Dec. 8 123 @ $15
Remsen Company uses a periodic inventory system. Sales totalled 1,839 units.
(a)
(a) Determine the cost of goods available for sale.
The cost of goods available for sale $
(b) Calculate average cost per unit. (Round answer to 3 decimal places, e.g. 5.125.)
Average cost $ per unit
Feb. 20 736 @ $11 Aug. 12 490 @ $13
May 5 613 @ $12 Dec. 8 123 @ $15
Remsen Company uses a periodic inventory system. Sales totalled 1,839 units.
(a)
(a) Determine the cost of goods available for sale.
The cost of goods available for sale $
(b) Calculate average cost per unit. (Round answer to 3 decimal places, e.g. 5.125.)
Average cost $ per unit
Really lost on this accounting problem?
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