Question
Bridgeport Corp. uses a periodic inventory system reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory
Bridgeport Corp. uses a periodic inventory system reports the following for the month of June.
| Date | Explanation | Units | Unit Cost | Total Cost | ||||
|---|---|---|---|---|---|---|---|---|
| June 1 | Inventory | 112 | $5 | $560 | ||||
| 12 | Purchases | 336 | 6 | 2016 | ||||
| 23 | Purchases | 190 | 7 | 1330 | ||||
| 30 | Inventory | 200 |
A sale of 388 units occurred on June 15 for a selling price of $8 and a sale of 50 units on June 27 for $9.
Calculate the average cost per unit, using a perpetual inventory system. (Round answers to 3 decimal places, e.g. 5.125.)
| June 1 | $5 | |
|---|---|---|
| June 12 | $5.75 | |
| June 15 | $5.75 | |
| June 23 | $ | |
| June 27 | $ |
Calculate 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 388 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 0 decimal places, e.g. 125.)
| FIFO | LIFO | Moving-Average | ||||
|---|---|---|---|---|---|---|
| The cost of the ending inventory | $ | $ | $ | |||
| The cost of goods sold | $ | $ | $ |
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Statistical Models And Analysis In Auditing
Authors: National Research Council, Division On Engineering And Physical Sciences, And Applications Commission On Physical Sciences, Mathematics, Board On Mathematical Sciences, Committee On Applied And Theoretical Statistics, Panel On Nonstandard Mixtures Of Distributions
1st Edition
0309078172, 978-0309078177
