Question

Refer to the data for Builder Bee Equipment in P6-1B. However, assume Builder Bee Equipment uses the average cost method.
In P6-1B
Apr 6 Purchased 115 units @ $142
13 Sold 100 units @ $300
19 Purchased 80 units @ $152
25 Sold 40 units @ $300
29 Sold 75 units @ $300
Requirements
1. Prepare a perpetual inventory record using average cost. Round the average unit cost to the nearest cent and all other amounts to the nearest dollar.
2. Prepare a multi-step income statement for Builder Bee Equipment for the month of April.


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  • CreatedJuly 08, 2015
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