Question - Teal Mountain Inc. reports the following for the month of June.
|
Date
|
Explanation
|
Units
|
Unit Cost
|
Total Cost
|
|
June 1
|
Inventory
|
121
|
$5
|
$605
|
|
June 12
|
Purchases
|
371
|
6
|
2,226
|
|
June 23
|
Purchases
|
182
|
7
|
1,274
|
|
June 30
|
Inventory
|
242
|
|
|
A sale of 382 units occurred on June 15 for a selling price of $7 and a sale of 50 units on June 27 for $8.
Calculate the average cost per unit, using a perpetual Inventory system.