Question: Recording Purchase Entry Using Relative Sales Value Method Bick Company purchased 9,100 bushels of ungraded apricots for $18,900. The apricots were sorted as follows: grade

Recording Purchase Entry Using Relative Sales Value Method Bick Company purchased

Recording Purchase Entry Using Relative Sales Value Method Bick Company purchased 9,100 bushels of ungraded apricots for $18,900. The apricots were sorted as follows: grade A, 3,500 bushels; grade A 2,450 bushels; and grade C, 3,150 bushels, The current market prices for graded apricots follow. grade A $5 per bushel; grade B, $3 per bushel; and grade C. \$1 per bushel. The company uses a perpetual inventory system. Prepare the entry to record the purchase on account. Note: Round your final answers to the nearest penny

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