Question: Problem 6-8A (Part Level Submission) Dempsey Inc. is a retailer operating in British Columbia. Dempsey uses the perpetual inventory method. All sales returns from customers
Problem 6-8A (Part Level Submission) Dempsey Inc. is a retailer operating in British Columbia. Dempsey uses the perpetual inventory method. All sales returns from customers result in the goods being returned to inventory; the inventory is not damaged. Assume that there are no credit transactions; all amounts are settled in cash. You are provided with the following information for Dempsey Inc. for the month of January 2017. Unit Cost or Selling Description Date January 1 Beginning inventory January 5 Purchase January 8 Sale January 10 Sale return January 15 Purchase January 16 Purchase return January 20 Sale Quantity 100 147 114 10 Price $17 20 30 30 93 34 24 n w January 25 Purchase (a1) Calculate the Moving-average cost per unit at January 1, 5, 8, 10, 15, 16, 20, & 25. (Round answers to 3 decimal places, e.g. 5.251.) Moving-Average Cost per unit January 1 January 5 January 8 January 10 January 15 January 16 January 20 January 25 Attempts: 0 of 3 used
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
