The following information is for the inventory of mini-kettles at Blue Spruce Company Limited for the month of May. Date   Transaction   Units In   Unit Cost   Total   Units Sold   Unit Price   Total May 1     Balance   130     $4.20     $546                     6     Purchase   800     4.20     3,360                     7     Sale                     320       $7.20   $2,304   10     Sale                     320       7.60   2,432   12     Purchase   450     4.60     2,070                     15     Sale                     250       8.00   2,000   18     Purchase   330     4.80     1,584                     22     Sale                     450       8.00   3,600   25     Purchase   550     4.40     2,420                     30     Sale                     250       7.40   1,850        Totals 2,260           $9,980     1,590           $12,186       Assuming that the perpetual inventory method is used, calculate the inventory cost at May 31 under FIFO. Ending inventory   $                          Assuming that the perpetual inventory method is used, calculate the inventory cost at May 31 under moving-average. (Round unit cost to 3 decimal places, e.g. 52.752 and final answer to 2 decimal places, e.g. 52.75.) Ending inventory   $

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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The following information is for the inventory of mini-kettles at Blue Spruce Company Limited for the month of May.

Date   Transaction   Units
In
  Unit
Cost
  Total   Units
Sold
  Unit
Price
  Total
May 1     Balance   130     $4.20     $546                    
6     Purchase   800     4.20     3,360                    
7     Sale                     320       $7.20   $2,304  
10     Sale                     320       7.60   2,432  
12     Purchase   450     4.60     2,070                    
15     Sale                     250       8.00   2,000  
18     Purchase   330     4.80     1,584                    
22     Sale                     450       8.00   3,600  
25     Purchase   550     4.40     2,420                    
30     Sale                     250       7.40   1,850  
     Totals 2,260           $9,980     1,590           $12,186  
 
 
Assuming that the perpetual inventory method is used, calculate the inventory cost at May 31 under FIFO.

Ending inventory  
 
 
 
 
 
 
 
 
 
 
 
 
Assuming that the perpetual inventory method is used, calculate the inventory cost at May 31 under moving-average. (Round unit cost to 3 decimal places, e.g. 52.752 and final answer to 2 decimal places, e.g. 52.75.)

Ending inventory  
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