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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 400 units occurred on June 15 for a selling price of $8 and a sale of 50 units on June 27 for $9. (Round answers to O decimal places, e.g. 125.) Cost of the ending inventory Cost of goods sold $ FIFO $ LIFO LA LA Moving-Average

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 400 units occurred on June 15 for a selling price of $8 and a sale of 50 units on June 27 for $9. (Round answers to O decimal places, e.g. 125.) Cost of the ending inventory Cost of goods sold $ FIFO $ LIFO LA LA Moving-Average

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter7: Inventories: Cost Measurement And Flow Assumptions
Section: Chapter Questions
Problem 12E: Alternative Inventory Methods Park Companys perpetual inventory records indicate the following...
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need help on the bottom part, please respond quick Date June 1 (a1) 12 23 30 June 1 June 12 (a2) June 15 Explanation Units Unit Cost Inventory $5 Purchase Purchase Inventory June 23 Your answer is correct. $ $ Calculate the weighted-average cost per unit, using a perpetual inventory system. Assume a sale of 400 units occurred on June 15 for a selling price of $8 and a sale of 50 units on June 27 for $9. (Round intermediate calculations to O decimal places, e.g. 152 and final answers to 3 decimal places, e.g. 5.125.) $ June 27 $ $ Save for Later 140 360 Cost of goods sold 220 eTextbook and Media 270 Cost of the ending inventory $ 5 $ 5.72 5.72 6.60 6 6.60 7 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 400 units occurred on June 15 for a selling price of $8 and a sale of 50 units on June 27 for $9. (Round answers to O decimal places, e.g. 125.) Total Cost $700 2,160 FIFO 1,540 $ $ LIFO $ $ Moving-Average Attempts: 0 of 6 used Submit Answer
Transcribed Image Text:need help on the bottom part, please respond quick Date June 1 (a1) 12 23 30 June 1 June 12 (a2) June 15 Explanation Units Unit Cost Inventory $5 Purchase Purchase Inventory June 23 Your answer is correct. $ $ Calculate the weighted-average cost per unit, using a perpetual inventory system. Assume a sale of 400 units occurred on June 15 for a selling price of $8 and a sale of 50 units on June 27 for $9. (Round intermediate calculations to O decimal places, e.g. 152 and final answers to 3 decimal places, e.g. 5.125.) $ June 27 $ $ Save for Later 140 360 Cost of goods sold 220 eTextbook and Media 270 Cost of the ending inventory $ 5 $ 5.72 5.72 6.60 6 6.60 7 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 400 units occurred on June 15 for a selling price of $8 and a sale of 50 units on June 27 for $9. (Round answers to O decimal places, e.g. 125.) Total Cost $700 2,160 FIFO 1,540 $ $ LIFO $ $ Moving-Average Attempts: 0 of 6 used Submit Answer
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