please help me with this moving average cost!!! Thanks!!!


Question Description:

20

please help me with this moving average cost!!! Thanks!!! ATTACHMENT PREVIEW Download attachment 6-8.docx Problem 6-8A Mercer Inc. is a retailer operating in British Columbia. Mercer 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 Mercer Inc. for the month of January 2014. Date Quantit y Description January 5 January 8 January 10 January 15 January 16 Beginning inventory Purchase Sale Sale return Purchase Purchase return January 20 January 25 Sale Purchase January 1 Unit Cost or Selling Price 100 $14 140 110 10 55 5 18 26 26 19 19 90 20 30 21 Your answer is incorrect. Try again. Calculate the Moving-average cost per unit at January 1, 5, 8, 15, 20, & 25. (Round answers to 3 decimal places, e.g. $5.251.) January 1 January 5 January 8 January 10 January 15 January 16 January 20 Moving-Average Cost per unit $ $ $ $ $ $ $ $ January 25 LINK TO TEXT Your answer is incorrect. Try again. For each of the following cost flow assumptions, calculate cost of goods sold, ending inventory, and gross profit. (1) LIFO. (2) FIFO. (3) Moving-average cost. (Round answers to 0 decimal places, e.g. $2,150.) LIFO Cost of goods sold Ending inventory Gross profit Movingaverage FIFO $ $ $ $ $ $ $ $ $ Read more jenniferrowell0810
posted a question ยท Sep 18, 2015 at 11:50pm

Answer

20