need help with this question Mercer Inc. is a retailer operating in British Colu

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Mercer Inc. is a retailer operating in British Columbia. Mercer uses the perpetual inventory method. All sales returns from cust there are no credit transactions; all amounts are settled in cash. You are provided with the folowing information for Mercer In Description Quantity Unit Cost or Selling Date January 1 Beginning January inventory 260 364 286 26 $17 21 31 31 January 5 Purchase January 8 Sale lanuary 10 Sale retum January 1s Purchase January 16 Purchase returm January 20 Sale 13 23 Jenuary 25 Purchase 52 Calculate the Moving-average cost per unit at lanuary 1, 5, 8, 15, 20, & 25. (Round answers to 3 decinnalplars e.g. S5.251 January January 5 January f

Explanation / Answer

Mercer Inc Moving Avg Date Transaction Op Units Cost $/Unit Total Op Inv Cost Purchase Units Purcahase cost/unit Total Purchase cost Total Inventory units Total Inventory value Sales unit Cost/unit of sales Sales cost Ending Inventory Unit Ending Inventory value Moving average cost/unit jan 1. Op Inv 260 17 4420 0 260 4420 260           4,420.0 17.00 Jan 5. Purchase 260 4420 364 21 7644 624 12064 624        12,064.0 19.33 Jan 8. Sale 624 12064 0 624 12064 286 19.333 5529.238 338        6,534.76 19.33 Jan 10. Sales return 338 6534.762 0 338 6534.762 -26 19.333 -502.658 364        7,037.42 19.33 Jan 15. Purchase 364 7037.42 143 23 3289 507 10326.42 507      10,326.42 20.37 Jan 16. Purchase return 507 10326.42 -13 23 -299 494 10027.42 494      10,027.42 20.30 Jan 20. Sale 494 10027.42 0 494 10027.42 234 20.3 4750.2 260        5,277.22 20.30 Jan 25. Purchase 260 5277.22 52 26 1352 312 6629.22 312        6,629.22 21.25 Total          11,986 9776.78 0 Date Moving Avg cost/unit jan 1. 17 Jan 5. 19.33 Jan 8. 19.33 Jan 15. 20.37 Jan 20. 20.3 Jan 25. 21.25

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