Ivanhoe Co. began operations on July 1. It uses a perpetual inventory system. During July, the company had the…

Ivanhoe Co. began operations on July 1. It uses a perpetual inventory system. During July, the company had the…

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Ivanhoe Co. began operations on July 1. It uses a perpetual inventory system. During July, the company had the following purchases
and sales.
Date
July 1
July 6
July 11
July 14
July 21
July 27
(a1)
Purchases
Units
5
6
7
Unit Cost
$138
$152
$163
Sales Units
3
5
5
сл
Calculate the average cost per unit at July 1, 6, 11, 14, 21 & 27. (Round intermediate calculations to O decimal places and final answers
to 3 decimal places e a $105.501) (a1)
Calculate the average cost per unit at July 1, 6, 11, 14, 21 & 27. (Round intermediate calculations to O decimal places and final answers
to 3 decimal places, e.g. $105.501.)
July
1 $
Average cost for each unit
July 6 $
July 11
$
July 14 $
July 27
July 21 $
$
eTextbook and Media (a2)
Determine the ending inventory under a perpetual inventory system using (1) FIFO, (2) moving-average cost, and (3) LIFO. (Round average-cost per unit to 3 decimal places, e.g. 12.520 and final answer to O decimal places, e.g.
1,250.)
The ending inventory under a perpetual inventory system
eTextbook and Media
$
FIFO
$
MOVING-AVERAGE
$
LIFO

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1 Find the average cost per unit Average Cost per Unit Total Cost of Inventory Total Units July 1 5
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