ransactions for the month of June were: Purchases Sales June 1 (balance) 1,200 ₱3.20 June 2 900 @ ₱5.50 3 3,300 @ 3.10 6 2,400 @ 5.50 7 1,800 @ 3.30 9 1,500 @ 5.50 15 2,700 @ 3.40 10 600 @ 6.00 22 750 @ 3.50 18 2,100 @ 6.00 25 300 @ 6.00 1. Assuming that perpetual inventory records are kept in units only, the ending inventory on an average-cost basis, rounded to the nearest dollar, is?
Transactions for the month of June were:
Purchases Sales
June 1 (balance) 1,200 ₱3.20 June 2 900 @ ₱5.50
3 3,300 @ 3.10 6 2,400 @ 5.50
7 1,800 @ 3.30 9 1,500 @ 5.50
15 2,700 @ 3.40 10 600 @ 6.00
22 750 @ 3.50 18 2,100 @ 6.00
25 300 @ 6.00
1. Assuming that perpetual inventory records are kept in units only, the ending inventory on an average-cost basis, rounded to the nearest dollar, is?
2. Assuming that perpetual inventory records are kept in dollars, the ending inventory on a FIFO basis is?
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