A hardware store sells rubber tubing by the foot. If a ...

[s.tung]

A hardware store sells rubber tubing by the foot. If a seventy-five-foot roll of tubing eventually sells for a total of 54, how much did the store charge per foot? (Round to the nearest cent.)

Question 2

A hardware merchant using the average cost method of valuing inventory has 350 hammers remaining in inventory. The merchant purchased hammers over a three-month period as follows: 120 purchased at 3.50 in April, 150 purchased at 3.62 in May, and 150 purchased at 3.72 in June. Compute the value of the ending inventory of hammers at average cost.

[amy.lauersdorf90]

Answer to Question 1

54  75 feet = 0.72, or 72 cents per foot

Answer to Question 2

1,267.50 or 1,267.00