Question

Teal Company uses a periodic inventory system. For April, when the company sold 650 units, the following information is available.

Units Unit Cost Total Cost
April 1 inventory 290 $18 $5,220
April 15 purchase 400 22 8,800
April 23 purchase 310 23 7,130
1,000 $21,150

Calculate the weighted average cost per unit. (Round answer to 2 decimal places, e.g. 2.76.)

Answer 1

Answer:

The average cost per unit is $ 21.15 for 1,000 unit.

Inventory   Purchase   Final  

Q Cost  Q Cost  Q Cost  

PURCHASE  290.00   18.00   5,220.00   400.00   22.00   8,800.00   690.00   20.32   14,020.00  

PURCHASE  690.00   20.32   14,020.00   310.00   23.00   7,130.00   1,000.00   21.15   21,150.00