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Calculate the moving-average cost per unit at january

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Reference no: EM132689539

Lily Inc. is a retailer operating in British Columbia. Lily uses the perpetual inventory method. All sales returns from customers result in the goods being returned to inventory; the inventory is not damaged. Assume that there are no credit transactions; all amounts are settled in cash. You are provided with the following information for Lily Inc. for the month of January 2020.

Date.          Description.                   Quantity.                Unit Cost/Selling Price
Jan 1.        Beginning Inventory.           100.                         $13
Jan 5.          Purchase.                        147.                          16
Jan 8.             Sale.                             113.                          27
Jan 10.          Sale Return.                      10                            27
Jan 15.           Purchase.                           55.                       18                    
Jan 16.              Purchase Return.                  5.                       18
Jan 20.                    Sale.                             94.                       32
Jan 25.                Purchase.                          18.                          20

Problem 1: Calculate the Moving-average cost per unit at January 1, 5, 8, 10, 15, 16, 20, & 25. (Round answers to 3 decimal places, e.g. 5.251.)

Reference no: EM132689539

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