Calculate the cost of the ending inventory and the cost of goods sold for each cost flow assumption, using a perpetual inventory system. Assume a sale of 400 units occurred on June 15 for a selling price of $8 and a sale of 50 units on June 27 for $9. (Round answers to O decimal places, e.g. 125.) Cost of the ending inventory Cost of goods sold $ FIFO $ LIFO LA LA Moving-Average
Calculate the cost of the ending inventory and the cost of goods sold for each cost flow assumption, using a perpetual inventory system. Assume a sale of 400 units occurred on June 15 for a selling price of $8 and a sale of 50 units on June 27 for $9. (Round answers to O decimal places, e.g. 125.) Cost of the ending inventory Cost of goods sold $ FIFO $ LIFO LA LA Moving-Average
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
JJ. 180.
Transcribed Image Text:need help on the bottom part, please respond quick
Date
June 1
(a1)
12
23
30
June 1
June 12
(a2)
June 15
Explanation Units Unit Cost
Inventory
$5
Purchase
Purchase
Inventory
June 23
Your answer is correct.
$
$
Calculate the weighted-average cost per unit, using a perpetual inventory system. Assume a sale of 400 units occurred on June 15
for a selling price of $8 and a sale of 50 units on June 27 for $9. (Round intermediate calculations to O decimal places, e.g. 152 and final
answers to 3 decimal places, e.g. 5.125.)
$
June 27 $
$
Save for Later
140
360
Cost of goods sold
220
eTextbook and Media
270
Cost of the ending inventory $
5
$
5.72
5.72
6.60
6
6.60
7
Calculate the cost of the ending inventory and the cost of goods sold for each cost flow assumption, using a perpetual inventory
system. Assume a sale of 400 units occurred on June 15 for a selling price of $8 and a sale of 50 units on June 27 for $9. (Round
answers to O decimal places, e.g. 125.)
Total Cost
$700
2,160
FIFO
1,540
$
$
LIFO
$
$
Moving-Average
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