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Baumgartner Corporation sells item A as part of its product line. Information as to balances on hand, purchases, and sales of item A are given
Baumgartner Corporation sells item A as part of its product line. Information as to balances on hand, purchases, and sales of item A are given in the following table for the first six months of 2021. Date January 11 February 8 January 24 1,400 March 16 June 11 - L Purchased Sold 400 800 Quantities 560 Balance 400 1,800 1,000 440 840 Unit Price of Purchase $4.60 $4.90 $5.10 Instructions: 1. Compute the ending inventory value at June 30 under the perpetual LIFO inventory costing method. 2. Compute the cost of goods sold for the first six months under the periodic FIFO inventory costing method. 3. Compute the average cost per unit for the ending inventory at June 30 under the perpetual moving average cost inventory costing method. Note: Extend decimal places 4 digits while working the problem, then round your final cost per unit to two decimal places--e.g 1.23.
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