Calculate the moving-average cost per unit at january first

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Financial Accounting Assignment

Mercer Inc. is a retailer operating in British Columbia. Mercer 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 Mercer Inc. for the month of January 2015.

Date		Description	Quantity	Unit Cost or Selling Price
January	1	Beginning inventory	280	$12
January	5	Purchase	392	14
January	8	Sale	308	23
January	10	Sale return	28	23
January	15	Purchase	154	15
January	16	Purchase return	14	15
January	20	Sale	252	28
January	25	Purchase	56	18

Calculate the Moving-average cost per unit at January 1, 5, 8, 15, 20, & 25.

Reference no: EM131487868

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