ress Distribution markets CDs of the performing artist Fishe. At the beginning o

Question

ress Distribution markets CDs of the performing artist Fishe. At the beginning of October, Express had in beginning inventory 4,100 of Fishe’s CDs with a unit cost of $7. During October, Express made the following purchases of Fishe’s CDs.

Oct. 3

5,125

@

$8

Oct. 19

6,150

@

$10

Oct. 9

7,175

@

$9

Oct. 25

8,200

@

$11

During October, 22,345 units were sold. Express uses a periodic inventory system.

(a)

Your answer is correct.

Determine the cost of goods available for sale.

Cost of goods available for sale

$

(b1)

Calculate cost per unit. (Round answer to 2 decimal places, e.g. 2.25.)

Cost per unit

$

ress Distribution markets CDs of the performing artist Fishe. At the beginning of October, Express had in beginning inventory 4,100 of Fishe’s CDs with a unit cost of $7. During October, Express made the following purchases of Fishe’s CDs.

Oct. 3

5,125

@

$8

Oct. 19

6,150

@

$10

Oct. 9

7,175

@

$9

Oct. 25

8,200

@

$11

During October, 22,345 units were sold. Express uses a periodic inventory system.

(a)

Your answer is correct.

Determine the cost of goods available for sale.

Cost of goods available for sale

$

$285975

(b1)

Calculate cost per unit. (Round answer to 2 decimal places, e.g. 2.25.)

Cost per unit

$

Explanation / Answer

b1) $ 8.67

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