DUE ASAP POINTS IMMEDIATLY Problem 6-3A Remsen Company Inc. had a beginning inve

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DUE ASAP POINTS IMMEDIATLY

Problem 6-3A Remsen Company Inc. had a beginning inventory of 124 units of Product MLN at a cost of $10 per unit. During the year, purchases were: $11 743 496 Feb. 20 Aug. 12 $14 May 5 620 $12 Dec. 8 124 $15 Remsen Company uses a periodic inventory system. Sales totalled 1,859 units w (a) (a) Determine the cost of goods available for sale. The cost of goods available for sale (b) Calculate average cost per unit. (Round answer to 3 decimal places, e.g. 5.125.) Average cost per unit Click if you would like to show work for this question Open Show Work SHOW LIST OF ACCOUNTS

Explanation / Answer

Hi,

Please find the detailed answer as follows:

Cost of Goods Sold Available for Sale = 124*10 + 743*11 + 620*12 + 496*14 + 124*15 = 25657

Average Cost Per Unit = Cost of Goods Sold Available for Sale/Total Units = 25657/(124 + 743 + 620 + 496 + 124) = 12.177

Thanks.

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