Current Attempt in Progress

Kingbird Company uses the perpetual inventory system and the weighted average cost formula. The following information is available for the month of June:

Date

Explanation

Units

Unit Cost

June

1 Beginning Inventory

210

$10

15

Purchase

310

10

17

Sale

260

7

24

Purchase

410

12

Prepare a schedule to show cost of goods sold and the value of the ending inventory for the month of June. (Round the weighted average cost per unit to 2 decimal places, eg 15.25 and all other answers to O decimal places, eg 5.275)

Purchases

Date

Units

Cost

Total

Units

June

1