Use the following information to answer questions
ABC Company purchases five products for sale in the order and at the costs shown: $$\begin{array} { c c }
\text { Unit } & \text { Cost per Unit } \
1 & \$ 10 \
2 & \$ 12 \
3 & \$ 15 \
4 & \$ 18 \
5 & \$ 13
\end{array}$$
-Assume ABC uses the average cost method of inventory valuation.What unit cost would be used to determine the amount in ending inventory or cost of goods sold?
A)$12.67
B)$13.60
C)$15.00
D)$13.00

Question

Use the following information to answer questions 
ABC Company purchases five products for sale in the order and at the costs shown: $$\begin{array} { c c } 
\text { Unit } & \text { Cost per Unit } \
1 & \$ 10 \
2 & \$ 12 \
3 & \$ 15 \
4 & \$ 18 \
5 & \$ 13
\end{array}$$
-Assume ABC uses the average cost method of inventory valuation.What unit cost would be used to determine the amount in ending inventory or cost of goods sold?
A)$12.67
B)$13.60
C)$15.00
D)$13.00

Quizplus · Accepted Answer

The average cost is calculated by summing the total cost of all units and dividing by the number of units: (10 + 12 + 15 + 18 + 13) / 5 = $13.60.

Use the Following Information to Answer Questions ABC Company Unit Cost per Unit 1$102$123$154$185$13\begin{array} { c c } \text { Unit } & \text { Cost per Unit } \\1 & \$ 10 \\2 & \$ 12 \\3 & \$ 15 \\4 & \$ 18 \\5 & \$ 13\end{array} Unit 12345​ Cost per Unit $10$12$15$18$13​

Use the Following Information to Answer Questions
ABC Company $\begin{array} { c c } \text { Unit } & \text { Cost per Unit } \\1 & \$ 10 \\2 & \$ 12 \\3 & \$ 15 \\4 & \$ 18 \\5 & \$ 13\end{array}$