Exercise 8-16 Presented below is information related to Blowfish radios for the

Question

Exercise 8-16

Presented below is information related to Blowfish radios for the Hootie Company for the month of July.

Date

Transaction

Units In

Unit Cost

Total

Units Sold

Selling Price

Total

Calculate average cost per unit

Date

Transaction

Units In

Unit Cost

Total

Units Sold

Selling Price

Total

July 1 Balance 120 $3.57 $  428 6 Purchase 960 3.60 3,456 7 Sale 360 $6.97 $ 2,509 10 Sale 360 7.32 2,635 12 Purchase 480 4.28 2,054 15 Sale 240 7.68 1,843 18 Purchase 360 5.53 1,991 22 Sale 480 7.95 3,816 25 Purchase 600 5.97 3,582 30 Sale 240 8.30 1,992    Totals 2,520 $11,511 1,680 $12,795

Explanation / Answer

Average cost per unit = Total Cost/Total Unit

Average cost per unit = 11511/2520

Average cost per unit = $ 4.57

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