Question
Exercise 6-14 Headlands Industries reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 132 $5 $660
Exercise 6-14 Headlands Industries reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 132 $5 $660 12 Purchases 361 6 2,166 23 Purchases 219 7 1,533 30 Inventory 291 A sale of 372 units occurred on June 15 for a selling price of $7 and a sale of 49 units on June 27 for $8. Calculate the average cost per unit, using a perpetual inventory system. (Round answers to 3 decimal places, e.g. 5.125.) June 1 $ June 12 $ June 15 $ 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 372 units occurred on June 15 for a selling price of $7 and a sale of 49 units on June 27 for $8. (Round answers to 0 decimal places, e.g. 125.) FIFO LIFO Moving-Average The cost of the ending inventory $ $ $ The cost of goods sold $ $ $ Click if you would like to Show Work for this question: Open Show Work
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