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Basis Furniture Ltd. uses a perpetual inventory system and has a beginning inventory, as at June 1, of 535 bookcases at a cost of $124
Basis Furniture Ltd. uses a perpetual inventory system and has a beginning inventory, as at June 1, of 535 bookcases at a cost of $124 each. During June, the company had the following purchases and sales of bookcases:
Purchases | Sales | |||
Date | Units | Unit cost | Units | Unit price |
June | 6 | 1,244 | $127 | |
10 | 891 | $202 | ||
14 | 1,819 | 128 | ||
16 | 1,520 | 213 | ||
26 | 1,194 | 132 |
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