. Calculate the cost of ending inventory. Ending inventory . Calculate the cost of goods sold. Cost of goods sold 3
. Calculate the cost of ending inventory. Ending inventory . Calculate the cost of goods sold. Cost of goods sold 3
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter6: Cost Of Goods Sold And Inventory
Section: Chapter Questions
Problem 32CE: ( Appendix 6B) Inventory Costing Methods: Periodic Average Cost Refer to the information for...
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Question
![14
6
Using the specific identification method:
Date
June 1
July 1
August 1
a. Calculate the cost of ending inventory.
Units purchased
15 Echo Show's 360
37 Echo Show's 360
61 Echo Show's 360
Ending inventory
b. Calculate the cost of goods sold.
Cost of goods sold
Cost per
unit
$ 260
235
225
Ending inventory
6 Echo Show's from June
11 Echo Show's from July
8 Echo Show's from August](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F589f465c-5a72-457d-9e7b-397ae4d29e1f%2F85351578-a4a3-4826-b41a-24056580bd89%2Fw3oa2g_processed.png&w=3840&q=75)
Transcribed Image Text:14
6
Using the specific identification method:
Date
June 1
July 1
August 1
a. Calculate the cost of ending inventory.
Units purchased
15 Echo Show's 360
37 Echo Show's 360
61 Echo Show's 360
Ending inventory
b. Calculate the cost of goods sold.
Cost of goods sold
Cost per
unit
$ 260
235
225
Ending inventory
6 Echo Show's from June
11 Echo Show's from July
8 Echo Show's from August
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