Question: 1. What is the formula for calculating average cost per unit? 2. Ambaw Company reports the following inventory transactions for the month of June: Calculate

1. What is the formula for calculating average cost per unit?

2. Ambaw Company reports the following inventory transactions for the month of June: Beginning Inventory 1,000 units @ $12 per unit 2,000 units @ $18

Calculate the cost of goods sold, ending inventory and gross profit using average cost.

Beginning Inventory 1,000 units @ $12 per unit 2,000 units @ $18 per unit 2,500 units @ $30 per unit 3,500 units @ $23 per unit 2,000 units @ $33 per unit 1,400 units @ $26 per unit June 1 June 5 Purchase June 10 Sale June 15 Purchase June 20 Sold June 27 Purchase

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