Pina Furniture Ltd. uses a perpetual inventory system and has a beginning inventory, as at June 1, of 490 bookcases at a cost of $132 each. During June, the company had the following purchases and sales of bookcases: Date June 6 10 14 16 26 Purchases Units Unit cost 1,160 $134 1,780 970 135 136 Units 950 1,660 Sales Unit price $201 206
Pina Furniture Ltd. uses a perpetual inventory system and has a beginning inventory, as at June 1, of 490 bookcases at a cost of $132 each. During June, the company had the following purchases and sales of bookcases: Date June 6 10 14 16 26 Purchases Units Unit cost 1,160 $134 1,780 970 135 136 Units 950 1,660 Sales Unit price $201 206
College Accounting (Book Only): A Career Approach
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Chapter11: Work Sheet And Adjusting Entries
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Problem 3E: Basga Company uses the periodic inventory system. Beginning inventory amounted to 241,072. A...
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![Pina Furniture Ltd. uses a perpetual inventory system and has a beginning inventory, as at June 1, of 490 bookcases at a cost of $132
each. During June, the company had the following purchases and sales of bookcases:
Date
June
(a)
6
10
14
16
26
Purchases
Units Unit cost
1,160
$134
1,780
970
135
136
Sales
Units Unit price
950
1,660
$201
206](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa880cc3d-71b2-44bc-9eb8-ccb18aa2c0ed%2Fa3542366-8ee8-4e31-9cff-bea2a7916169%2Fynyhrn_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Pina Furniture Ltd. uses a perpetual inventory system and has a beginning inventory, as at June 1, of 490 bookcases at a cost of $132
each. During June, the company had the following purchases and sales of bookcases:
Date
June
(a)
6
10
14
16
26
Purchases
Units Unit cost
1,160
$134
1,780
970
135
136
Sales
Units Unit price
950
1,660
$201
206
![Determine the cost of goods sold and the cost of the ending inventory using the average cost formula. (Use unrounded numbers for
average cost calculations. Round answers to 2 decimal places. e.g 5.52.)
Cost of goods sold
Cost of the ending inventory
$](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa880cc3d-71b2-44bc-9eb8-ccb18aa2c0ed%2Fa3542366-8ee8-4e31-9cff-bea2a7916169%2Fo9d4km_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Determine the cost of goods sold and the cost of the ending inventory using the average cost formula. (Use unrounded numbers for
average cost calculations. Round answers to 2 decimal places. e.g 5.52.)
Cost of goods sold
Cost of the ending inventory
$
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