a company sells 100 units in june. calculate the cost of goods sold using cost averaging. june 4 60 $2.20…

a company sells 100 units in june. calculate the cost of goods sold using cost averaging. june 4 60 $2.20 june 11 20 $2.90 june 18 40 $2.30 june 25 60 $2.20 $? per unit round to the nearest cent.

a company sells 100 units in june. calculate the cost of goods sold using cost averaging. june 4 60 $2.20 june 11 20 $2.90 june 18 40 $2.30 june 25 60 $2.20 $? per unit round to the nearest cent.

Answer

Explanation:

Step1: Calculate total cost of units received

First, find the cost for each batch. For June 4: $60\times2.20 = 132$. For June 11: $20\times2.90=58$. For June 18: $40\times2.30 = 92$. For June 25: $60\times2.20=132$. Then sum them up: $132 + 58+92 + 132=414$.

Step2: Calculate total number of units received

Sum the number of units received in each batch: $60 + 20+40 + 60=180$.

Step3: Calculate average cost per unit

Divide the total cost by the total number of units: $\frac{414}{180}=2.3$.

Answer:

$2.30$