New Tab ttps//edugen.wileyplus.com/edugen/student/mainfr.uni Kimmel, Financial A

Question

New Tab ttps//edugen.wileyplus.com/edugen/student/mainfr.uni Kimmel, Financial Accounting, 8e, Custom for Virginia Tech Gradebook ORION Downloadable eTextbook Brief Exercise 6-3 at $7, (2) 370 units at $9, and (3) 470 units at $10 In its first month of operations, Tamarisk, Inc, made three purchases of merchandise in the following sequence: (1) 270 units Your answer is incorrect. Try again Calculate average unit cost. (Round answer to 3 decimal places, e.g. 5.125) Average unit cost- SHOW LIST oF LINK TO Your answer is incorrect. Try again. Compute the cost of the ending inventory under the average-cost The cost of the ending inventory t method, assuming there are 170 units on hand at the end of the period. (Round answer to O decimal places, e.g. I

Explanation / Answer

Average unit cost = (270*7 + 370*9 + 470*10)/(270+370+470)

= 9920/1110

= 8.937

Cost of ending inventory = 170 units at the end* average unit cost

= 170* 8.937 = 1519.29 = 1519

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