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Cox Corporation produces a product with the following costs as of July 1, 20XX:
Material $5per unit
Labour $3per unit
Overhead $1per unit
Assuming Cox sold 15,800 units during the last six months of the year at $14 each, beginning inventory at these costs on July 1 was 3,700 units. From July 1 to December 31, 20XY, Cox produced 13,400 units. These units had a material cost of $2 per unit. The costs for labour and overhead were the same. (Round your intermediate values to 2 decimal places and final answer to the nearest whole dollars.)
a. Assumed Cox Corportation used average cost inventory accounting, what would gross profit be?
Gross profit $
b. Assumed Cox Corportation used average cost inventory accounting, what is the value of ending inventory?
Ending inventory $
Finance is about Gunns Ltd, a company in dealing with forestry products in Australia. The company has also been listed in Australian Stock Exchange. As many companies producing forestry products, even Gunns Ltd is facing various problems. Due to the ..
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