Homework Help: CONTEMPORARY MATH

Posted by NOAH on Friday, July 30, 2010 at 9:22pm.

HOW DID THEY GET THIS ANSWER?

PHYSICAL INVENTORY OF PICTURE FRAME WAS TAKEN AT TARGET THEY FOUND THERE WAS 700 WAS REMAINING WHAT WAS THE INVENTORY PRICING?

IT GOES ON TO GIVE THE STRATEGY
JAN 1 BEGIN INVEN. 400 UNITS @ $5.00 = $2000.00
APRIL 9 PURCHASE 200 UNITS @ $6.00 = $1200.00
JULY 19 PURCHASE 500 UNITS @ $7.00 =
$3,500
OCT 15 PURCHASE 300 UNITS @ 8.00 =
$2400.00

STEP 1:200 UNITS @ $9.00 FROM DEC.8
300 UNITS @ $8.00 FROM OCT.5
200 UNITS @ $7.00 FROM JULY 19
---
700 INVENTORY DEC.31

STEP 2&3:UNITS COST/UNITS TOTAL
200 $9.00 $1800.00
300 $8.00 $2,400
200 $7.00 $1,400
_______
INVENTORY BALANCE $5600.00
I DONT UNDERSTAND IN STEP 1 WHERE DID THEY GET 200 UNITS @ $7.OO FOR JULY 19TH.

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