Shania Twain Company was formed on December 1, 2024. The following information is available from Twain's...
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Shania Twain Company was formed on December 1, 2024. The following information is available from Twain's inventory records for Product BAP. January 1, 2025 (beginning inventory) Purchases: January 5, 2025 January 25, 2025 February 16, 2025 March 26, 2025 Units 600 1,200 1,300 800 600 Unit Cost $8 9 10 11 12 A physical inventory on March 31, 2025, shows 1,600 units on hand. (c1) Calculate average-cost per unit. (Round answer to 2 decimal places, e.g. 2.76.) Weighted-average cost per unit $ eTextbook and Media Save for Later Attempts: unlimited Submit Answer (b) Your answer is correct. Prepare schedule to compute the ending inventory at March 31, 2025, under LIFO inventory method. Beginning Inventory Purchases January 5, 2025 Ending Inventory SHANIA TWAIN COMPANY COMPUTATION OF INVENTORY FOR PRODUCT BAP UNDER LIFO INVENTORY METHOD March 31, 2025 Units 600 1000 1600 $ Unit Cost 8 9 Total Cost 4800 9000 13800 Shania Twain Company was formed on December 1, 2024. The following information is available from Twain's inventory records for Product BAP. January 1, 2025 (beginning inventory) Purchases: January 5, 2025 January 25, 2025 February 16, 2025 March 26, 2025 Units 600 1,200 1,300 800 600 Unit Cost $8 9 10 11 12 A physical inventory on March 31, 2025, shows 1,600 units on hand. (c1) Calculate average-cost per unit. (Round answer to 2 decimal places, e.g. 2.76.) Weighted-average cost per unit $ eTextbook and Media Save for Later Attempts: unlimited Submit Answer (b) Your answer is correct. Prepare schedule to compute the ending inventory at March 31, 2025, under LIFO inventory method. Beginning Inventory Purchases January 5, 2025 Ending Inventory SHANIA TWAIN COMPANY COMPUTATION OF INVENTORY FOR PRODUCT BAP UNDER LIFO INVENTORY METHOD March 31, 2025 Units 600 1000 1600 $ Unit Cost 8 9 Total Cost 4800 9000 13800
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Answer To calculate the averagecost per unit for Product BAP we can use the weightedaverage cost met... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-1118147290
15th edition
Authors: Donald E. Kieso, Jerry J. Weygandt, and Terry D. Warfield
Posted Date:
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