Name_________________________4-Digit #_________Section #_______________ Accounting for Inventories: [083Q5] Joy Company was formed on January 1, Year 1. Joy buys exactly 15 units per month on the first day of the month. The firm started buying 15 units per month in January Year 1 at a unit cost of $20. Starting on February Year 1, each month saw a $1 per unit increase in the cost to purchase these units. [On February 1 the units all cost $21 each. On March 1 the units all cost $22 each. In each successive month the unit costs increase by $1 per month.] All units purchased in a given month are at the same unit cost.
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This note was uploaded on 12/04/2008 for the course ACCT 250A taught by Professor Hopkins during the Fall '07 term at USC.