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Suppose that Ralph Lauren Company r Date Explanation Uni June 1 Inventory 500 12 Purchase 800 23 Purchase 1,00C 30 Inventory 53C (a) Calculate the cost of the ending inv system. Assume a sale of 870 units occ average cost per unit to 3 decimal places SA Cost of the ending inventory $ Cost of goods sold SA

Suppose that Ralph Lauren Company r Date Explanation Uni June 1 Inventory 500 12 Purchase 800 23 Purchase 1,00C 30 Inventory 53C (a) Calculate the cost of the ending inv system. Assume a sale of 870 units occ average cost per unit to 3 decimal places SA Cost of the ending inventory $ Cost of goods sold SA

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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Typed plz and asap please provide me a quality solution reed the question carefully and answer accordingly that  and take care of plagiarism also 
Suppose that Ralph Lauren Company reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 500 $5 $2,500 12 Purchase 800 6 4,800 23 Purchase 1,000 7 7,000 30 Inventory 530 (a) 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 870 units occurred on June 15 for a selling price of $8 and a sale of 900 units on June 27 for $9. (Round average cost per unit to 3 decimal places, e.g. 5.254 and final answers to O decimal places, e.g. 2,520.) FIFO Cost of the ending inventory $ Cost of goods sold $ LIFO Moving Average $ $ $ $
Transcribed Image Text:Suppose that Ralph Lauren Company reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 500 $5 $2,500 12 Purchase 800 6 4,800 23 Purchase 1,000 7 7,000 30 Inventory 530 (a) 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 870 units occurred on June 15 for a selling price of $8 and a sale of 900 units on June 27 for $9. (Round average cost per unit to 3 decimal places, e.g. 5.254 and final answers to O decimal places, e.g. 2,520.) FIFO Cost of the ending inventory $ Cost of goods sold $ LIFO Moving Average $ $ $ $
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