# Financial Accounting 2 Unit 4

Assume that T-Mart uses a periodic weighted average inventory system. Calculate the average cost per unit.
June 1 Beginning Inventory 15 @ \$12 = \$180June 6 Purchase 5 @ 15 = \$75June 27 Purchase 10 @ \$18 =\$180July 8 Sale 6 units
\$18/unit
\$15/unit
\$16.50/unit
\$14.50/unit
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Assume, that three identical units are purchased separately on the following three dates and at the respective costs:
June 1 at \$10June 2 at \$15July 4 at \$20
The company sells two units during the period. Determine which inventory items are sold first and which units remain in ending inventory if the company is using the LIFO perpetual cost flow assumption.
The June 1 at \$10 is sold, the June 2 at \$15 and the July 4 at \$20 remains in ending inventory
The June 1 at \$10 and the June 2 at \$15 are both sold; the July 4 unit remains in ending inventory
The June 2 at \$15 and the July 4 at \$20 are both sold; the June at \$10 remains in ending inventory
None of the above are correct