S Weygandt, Financial Accounting, 9e FINANCIAL ACCOUNTING (ACC2 Practice Gradebo

Question

S Weygandt, Financial Accounting, 9e FINANCIAL ACCOUNTING (ACC2 Practice Gradebook ORION ignment ES Brief Exercise 6-4 (Part Level Submission) In its frst month of operations, Bethke Company made three purchases of merchandse mo th of operations, Bethke Company made three purchases of me chandse i th·folowing seo e cr (1) 300 n, ar ss, c2) 400 unit purchases of merchandise in the folowrg seeeno:(1)Xunts at S6, (2) 400 units at $7.nd t (3) 200 units at s8. (al) Calculate the average unit cost. (Round answer to 2 decimal places, e.g. 1525.) Average unit cost Attempts o of 4 used savE roR LATER (a2) The parts of this question must be completed in order. This part will be available when you compiete the pt above

Explanation / Answer

SOLUTION 6-4:

Average cost per unit = 300 *6 + 400 * 7 + 200 * 8 = 6200 / 900 (i.e.total units) =$6.89 per unit

Solution 6-7:

The lower of cost or market valuation of inventory: $12000 + 9500 + 12800 = $34300

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