Question: Recording Purchase Entry Using Relative Sales Value Method Bick Company purchased 7,800 bushels of ungraded apricots for $16,200. 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 7,800 bushels of ungraded apricots for $16,200. The apricots were sorted as follows: grade A, 3,000 bushels: grade E 2.100 bushels; and grade C 2.700 bushels. The current market prices for graded apricots follow. grade A. $5 per bushel; grade B, $3 per bushe? 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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