MNH Co. uses a perpetual inventory system and had the following inventory transactions for the month...
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MNH Co. uses a perpetual inventory system and had the following inventory transactions for the month of June. June 1 On hand, 100 units at $10 each June 4 Purchased 350 units at $28 each June 5 Sold 400 units June 10 Purchased 95 units at $34 each June 24 Sold 60 units Round all per unit costs two decimal places in your work. If the company uses the average cost inventory costing method, what is the dollar amount of cost of goods sold? MNH Co. uses a perpetual inventory system and had the following inventory transactions for the month of June. June 1 On hand, 100 units at $10 each June 4 Purchased 350 units at $28 each June 5 Sold 400 units June 10 Purchased 95 units at $34 each June 24 Sold 60 units Round all per unit costs two decimal places in your work. If the company uses the average cost inventory costing method, what is the dollar amount of cost of goods sold?
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Answer rating: 100% (QA)
Average cost per unit on June 5 100 units x 10 350 units x 28 100 350 units 24 p... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-0324300987
10th Edition
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
Posted Date:
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