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Sheridan Inc. uses a periodic inventory system. Its records show the following for the month of May, in which 80 units were sold. Explanation Units Unit Cost Inventory 34 $9 Purchase 10 Purchase Date May 1 15 24 (a1) Total 26 40 100 11 Weighted average unit cost $ Total Cost $306 260 440 $1,006 Calculate the weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125.)

Sheridan Inc. uses a periodic inventory system. Its records show the following for the month of May, in which 80 units were sold. Explanation Units Unit Cost Inventory 34 $9 Purchase 10 Purchase Date May 1 15 24 (a1) Total 26 40 100 11 Weighted average unit cost $ Total Cost $306 260 440 $1,006 Calculate the weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125.)

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter7: Inventories: Cost Measurement And Flow Assumptions
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Sheridan Inc. uses a periodic inventory system. Its records show the following for the month of May, in which 80 units were sold. Explanation Units Unit Cost Inventory $9 Date May 1 15 24 (a1) Purchase Purchase Total 34 26 40 100 10 11 Weighted average unit cost $ Total Cost $306 260 440 $1,006 Calculate the weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125.)
Transcribed Image Text:Sheridan Inc. uses a periodic inventory system. Its records show the following for the month of May, in which 80 units were sold. Explanation Units Unit Cost Inventory $9 Date May 1 15 24 (a1) Purchase Purchase Total 34 26 40 100 10 11 Weighted average unit cost $ Total Cost $306 260 440 $1,006 Calculate the weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125.)
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