Homework Answers
Average cost per unit
= Total cost/Total units available
= [(100*6)+(200*9)+(150*9)]/(100+200+150)
= 3750/450 = 8.33 per unit
Gross profit = Sales - Cost of Goods Sold
= (100*40) - (100*8.33)
= 3166.67 or 3167
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Date
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Jan.
1
Beginning inventory
600
units
@ $35 per unit
Feb.
10
Purchase
300
units
@ $32 per unit
Mar.
13
Purchase
150
units
@ $20 per unit
Mar.
15
Sales
725
units
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Aug.
21
Purchase
190
units
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Sept.
5
Purchase
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into the following calendar-year purchases and sales
transactions
Date
Activities
Units Acquired at Cost
Units Sold at Retail
Jan.
1
Beginning inventory
600
units
@ $35 per unit
Feb.
10
Purchase
300
units
@ $32 per unit
Mar.
13
Purchase
150
units
@ $20 per unit
Mar.
15
Sales
725
units
@ $80 per unit
Aug.
21
Purchase
190
units
@ $40 per unit
Sept.
5
Purchase
540
units
@ $37...
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