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Date Explanation Units Unit Cost Total Cost June 1 Inventory 320 $ 5 $1,600 12 Purchase 620 6 3,720 23 Purchase 820 7 5,740 30
Date Explanation Units Unit Cost Total Cost June 1 Inventory 320 $ 5 $1,600 12 Purchase 620 6 3,720 23 Purchase 820 7 5,740 30 Inventory 350 Calculate the 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 690 units occurred on June 15 for a selling price of $ 8 and a sale of 720 units on June 27 for $ 9. (Round average cost per unit to 3 decimal places, e.g. 5.254 and final answers to O decimal places, eg. 2,520.)
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