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June 1 June 12 June 15 June 23 Sunland Company uses a perpetual inventory system and reports the following for the month of June. June 27 Date June 1 12 23 30 Explanation Units Inventory Purchase Cost of the ending Inventory Cost of goods sold Purchase Textbook and Media Inventory * Your answer is incorrect. 5.000 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 40 units on June 27 for $9. (Round intermediate calculations to O decimal places, eg. 152 and final answers to 3 decimal places, eg. 5.125.) 5.760 5.760 6.600 6.600 120 380 FIFO 210 270 Unit Cost 1.770 $5 2,580 Total Cost 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 40 units on June 27 for $9. (Round answers to 0 decimal places, eg. 125) $600 2.280 LIFO 1.470 1.720 2,730 Moving-Average 1,716 2.634

June 1 June 12 June 15 June 23 Sunland Company uses a perpetual inventory system and reports the following for the month of June. June 27 Date June 1 12 23 30 Explanation Units Inventory Purchase Cost of the ending Inventory Cost of goods sold Purchase Textbook and Media Inventory * Your answer is incorrect. 5.000 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 40 units on June 27 for $9. (Round intermediate calculations to O decimal places, eg. 152 and final answers to 3 decimal places, eg. 5.125.) 5.760 5.760 6.600 6.600 120 380 FIFO 210 270 Unit Cost 1.770 $5 2,580 Total Cost 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 40 units on June 27 for $9. (Round answers to 0 decimal places, eg. 125) $600 2.280 LIFO 1.470 1.720 2,730 Moving-Average 1,716 2.634

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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June 1 June 12 June 15 June 23 Sunland Company uses a perpetual inventory system and reports the following for the month of June. June 27 Date June 1 12 23 30 Explanation Units Unit Cost $5 Inventory Purchase Cost of the ending Inventory Cost of goods sold Purchase eTextbook and Media Inventory 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 40 units on June 27 for $9. (Round intermediate calculations to 0 decimal places, eg. 152 and final answers to 3 decimal places, e.g. 5.125.) * Your answer is incorrect. 5.000 5.760 5.760 6.600 6.600 120 380 FIFO 210 270 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 40 units on June 27 for $9. (Round answers to O decimal places, e.g. 125.) Total Cost $600 2.280 1.770 2,580 1.470 LIFO 1.720 2.730 Moving-Average 1.716 2.634
Transcribed Image Text:June 1 June 12 June 15 June 23 Sunland Company uses a perpetual inventory system and reports the following for the month of June. June 27 Date June 1 12 23 30 Explanation Units Unit Cost $5 Inventory Purchase Cost of the ending Inventory Cost of goods sold Purchase eTextbook and Media Inventory 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 40 units on June 27 for $9. (Round intermediate calculations to 0 decimal places, eg. 152 and final answers to 3 decimal places, e.g. 5.125.) * Your answer is incorrect. 5.000 5.760 5.760 6.600 6.600 120 380 FIFO 210 270 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 40 units on June 27 for $9. (Round answers to O decimal places, e.g. 125.) Total Cost $600 2.280 1.770 2,580 1.470 LIFO 1.720 2.730 Moving-Average 1.716 2.634
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