Special Sports Store, which uses the average cost method of valuing inventory, has 52 tennis rackets remaining in inventory. Special purchased tennis rackets over a three month-period as follows: 36 purchased at 15 on January 3, 48 purchased at 15.50 on February 5, and 24 purchased at 16 on March 7 . Compute the value of the ending inventory of tennis rackets at average cost.
Q. 2The wholesale price of a plastic irrigation bubbler is 25 cents. How many plastic bubblers can be purchased for 165? (Round to the nearest whole number.)
Q. 3Culver Clocks, Inc uses the LIFO method of valuing inventory. Over the past year, it purchased clocks as follows: January 1: 100 at 38.00 . March 1: 250 at 36.00 . July 1: 175 at 39.00 . October 1: 400 at 38.50; December 1: 300 at 39.50 . At year-end on December 31, Culver Clocks, Inc had a year-end inventory of 300 clocks. Compute the December 31, inventory value.
Q. 4A warehouse store sells a package of 125 steel washers for 2.75 . What is the price per washer when they are purchased in this package? (Find the price to the nearest tenth of a cent.)
Q. 5Hammond Stationery uses the LIFO method of valuing inventory and has 350 pen sets remaining in inventory. Hammond purchased the pen sets over a six month period as follows: May 1: 175 at 20.50; May 15: 125 at 22.00 . July 7: 75 at 24.00 . and October 1: 150 at 23.50 . Compute the value of the ending inventory.
Q. 6A certain cut of beef costs 7.59 per pound, and a similar cut of pork costs 5.19 per pound. What is the total cost of 3.25 pounds of the beef and 3.75 pounds of the pork? (Round to the nearest cent.)
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