Problem 6-5A (Part Level Submission) Date Description Quantity Unit Cost or Sell

Question

Problem 6-5A (Part Level Submission)

Date

Description

Quantity

Unit Cost or
Selling Price

(a1)

LINK TO TEXT

(a2)

LIFO

FIFO

AVERAGE-COST

LINK TO TEXT

(a3)

LIFO

FIFO

AVERAGE-COST

Problem 6-5A (Part Level Submission)

You are provided with the following information for Najera Inc. for the month ended June 30, 2017. Najera uses the periodic method for inventory.

Date

Description

Quantity

Unit Cost or
Selling Price

June 1 Beginning inventory 45 $42 June 4 Purchase 136 46 June 10 Sale 113 69 June 11 Sale return 15 69 June 18 Purchase 54 48 June 18 Purchase return 12 48 June 25 Sale 68 74 June 28 Purchase 35 52

Explanation / Answer

1. Weighted Average Cost per Unit:

1. Weighted Average Cost per Unit:

Date Description Units Unit Cost Total Cost June 1st Beginning Inventory 45 $                                         42.00 $                  1,890.00 June 4th Purchases 136 $                                         46.00 $                  6,256.00 June 18th Purchases 54 $                                         48.00 $                  2,592.00 June 18th Purchase Return -12 $                                         48.00 $                    (576.00) June 28th Purchases 35 $                                         52.00 $                  1,820.00 Total 258 $                11,982.00 Hence the Weighted Average Cost per Unit = Total Cost / Total Units $                        46.44

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