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Accounting

Isaiah Sporting Goods uses the perpetual average cost method of determining inventory costs. Below is the inventory record for Product C124:

Date Received Sold Cost/Unit Balance
April 22 534 $6.58 $3,513.72
May 17 433 $6.70 $2,901.10
June 21 389 $6.76 $2,629.64
August 2 436 $6.44 $2,807.84

What is the average cost per unit after the receipt of the June 21 inventory?

A. $6.62
B. $6.61
C. $6.72
D. $6.67

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M962566

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