The following information was available from the inventory records of Swifty Company for January: Units Unit...

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The following information was available from the inventory records of Swifty Company for January: Units Unit Cost Total Cost Balance at January 1 8800 $9.79 $86152 Purchases: January 6 6100 10.32 62952 January 26 8000 10.74 85920 Sales January 7 (7500) January 31 (11300) Balance at January 31 4100 Assuming that Swifty maintains perpetual inventory records, what should be the inventory at January 31, using the moving-average inventory method? (Round average cost per unit to 3 decimal places, e.g. 1.485.) The following information was available from the inventory records of Swifty Company for January: Units Unit Cost Total Cost Balance at January 1 8800 $9.79 $86152 Purchases: January 6 6100 10.32 62952 January 26 8000 10.74 85920 Sales January 7 (7500) January 31 (11300) Balance at January 31 4100 Assuming that Swifty maintains perpetual inventory records, what should be the inventory at January 31, using the moving-average inventory method? (Round average cost per unit to 3 decimal places, e.g. 1.485.)

Answer rating: 100% (QA)

Balance as of Jan 1 8800 units Total cost as of Jan 1 86152 Average cost per unit as of Jan 1 Total ... View the full answer