Question: Recording Purchase Entry Using Relative Sales Value Method Bick Company purchased 2,080 bushels of ungraded apricots for $4,320. The apricots were sorted as follows: grade

Recording Purchase Entry Using Relative Sales Value Method

Bick Company purchased 2,080 bushels of ungraded apricots for $4,320. The apricots were sorted as follows: grade A, 800 bushels; grade B, 560 bushels; and grade C, 720 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.

Round your final answers to the nearest penny.

Recording Purchase Entry Using Relative Sales Value Method Bick Company purchased

Round your final answers to the nearest penny

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