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Average-Cost Method homework problem?
Okay, so I don't really know what I am doing wrong here...maybe you can help me. Ive been up all night trying to do this homework.
I have an accounting problem, the average-cost method.
In its first month of operations, Quirk Company made three purchases of merchandise in the following sequence: (1) 300 units at $6, (2) 400 units at $7, and (3) 200 units at $8. Compute the cost of the ending inventory under the average-cost method, assuming there are 360 units on hand. (Round computation for unit cost to 2 decimal places, e.g. 10.50. Round final answer to 0 decimal places, e.g. 125.)
equation is (300 x 6) + (400 x 7) + (200 x 8) / 900 = A
6200 - (360 X A) = ?
I keep getting 3720.00
Anyone can help me? What am I doing wrong?
