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Moath Company reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 204 $1,224 12 Purchase 408 2,856 23 Purchase 306 2,448 30 Inventory 102 Assume a sale of 449 units occurred on June 15 for a selling price of $9 and a sale of 367 units on June 27 for $10. (a1) Your answer is correct. Calculate cost of goods available for sale. The cost of goods available for sale June 1 June 12 (a2) Your answer is partially correct. Try again. Calculate Moving-Average unit cost for June 1, 12, 15, 23 & 27. (Round answers to 3 decimal places, e.g. 2.525.) June 15 June 23 June 27 6.666 6.666 $6 8.594 7 8 8.594 6528 ▼(a3) Calculate the cost of the ending inventory and the cost of goods sold for each cost flow assumption, using a perpetual inventory system.

Moath Company reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 204 $1,224 12 Purchase 408 2,856 23 Purchase 306 2,448 30 Inventory 102 Assume a sale of 449 units occurred on June 15 for a selling price of $9 and a sale of 367 units on June 27 for $10. (a1) Your answer is correct. Calculate cost of goods available for sale. The cost of goods available for sale June 1 June 12 (a2) Your answer is partially correct. Try again. Calculate Moving-Average unit cost for June 1, 12, 15, 23 & 27. (Round answers to 3 decimal places, e.g. 2.525.) June 15 June 23 June 27 6.666 6.666 $6 8.594 7 8 8.594 6528 ▼(a3) Calculate the cost of the ending inventory and the cost of goods sold for each cost flow assumption, using a perpetual inventory system.

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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Exercise 6-16 (Part Level Submission) Moath Company reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 204 $1,224 12 Purchase 408 2,856 23 Purchase 306 2,448 102 $6 7 8 30 Inventory Assume a sale of 449 units occurred on June 15 for a selling price of $9 and a sale of 367 units on June 27 for $10. ▼ (al) Your answer is correct. Calculate cost of goods available for sale. The cost of goods available for sale ▼(a2) Your answer is partially correct. Try again. Calculate Moving-Average unit cost for June 1, 12, 15, 23 & 27. (Round answers to 3 decimal places, e.g. 2.525.) June 1 June 12 June 15 June 23 June 27 ✓ x X 6 6.666 6.666 8.594 8.594 ▼(a3) Calculate the cost of the ending inventory and the cost of goods sold for each cost flow assumption, using a perpetual inventory system. (Round average-cost per unit to 3 decimal places, e.g. 12.520 and final answer to 0 decimal places, e.g. 1,250.) LIFO Moving-Average Cost FIFO The cost ending inventory The cost of goods sold $ 6528 $ $ $
Transcribed Image Text:Exercise 6-16 (Part Level Submission) Moath Company reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 204 $1,224 12 Purchase 408 2,856 23 Purchase 306 2,448 102 $6 7 8 30 Inventory Assume a sale of 449 units occurred on June 15 for a selling price of $9 and a sale of 367 units on June 27 for $10. ▼ (al) Your answer is correct. Calculate cost of goods available for sale. The cost of goods available for sale ▼(a2) Your answer is partially correct. Try again. Calculate Moving-Average unit cost for June 1, 12, 15, 23 & 27. (Round answers to 3 decimal places, e.g. 2.525.) June 1 June 12 June 15 June 23 June 27 ✓ x X 6 6.666 6.666 8.594 8.594 ▼(a3) Calculate the cost of the ending inventory and the cost of goods sold for each cost flow assumption, using a perpetual inventory system. (Round average-cost per unit to 3 decimal places, e.g. 12.520 and final answer to 0 decimal places, e.g. 1,250.) LIFO Moving-Average Cost FIFO The cost ending inventory The cost of goods sold $ 6528 $ $ $
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