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Brief Exercise 6-6 Battery Limited uses a perpetual inventory system. The inventory records show the following data for its first month of operations: Date Explanation
Brief Exercise 6-6 Battery Limited uses a perpetual inventory system. The inventory records show the following data for its first month of operations: Date Explanation Units Unit Cost Total Cost Balance in Units Aug. 2 Purchases 250 $70 $17,500 250 3 Purchases 500 100 50,000 750 10 Sales (300) 450 15 Purchases 900 120 108,000 1,350 25 Sales (325) 1,025 Calculate the cost of goods sold and ending inventory using the FIFO cost method. Cost of goods sold $ Ending inventory s Calculate the cost of goods sold and ending inventory using the average cost method. (Round average cost per unit and final answers to 2 decimal places, e.g. 1.25.) Cost of goods sold $ Ending inventory s
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