Answer:
$7.38
Explanation:
The average cost method recalculates a new cost per unit with each and every purchase made. This new costs would then be used to calculate the costs of goods sold and inventory value.
Average cost per unit = Total Costs ÷ Units available for sale
= (200 x $7 + 800 x $7 + 600 x $8) ÷ 1,600
= $7.375 or $7.38
The average cost per unit for May is $7.38
Just making points thank you
Because your basically loaning the bank your money for them to use and they pay you a fee.
13250 b 5040 c 3710 d 2800 e none ans c chapter
Answer:
COGS= $58,000
Explanation:
Giving the following information:
The year began with an inventory of $20,000, Purchases for the year were $45,000, and the Ending Inventory was $7,000.
To calculate the cost of goods sold, we need to use the following formula:
COGS= beginning finished inventory + cost of goods purchased - ending finished inventory
COGS= 20,000 + 45,000 - 7,000
COGS= $58,000