Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Exercise 6-17 a1-a3 (Video) Pina Colada Corp. reports the following for the month of June. Unit Cost Date June 1 $6 Explanation Units Inventory 340
Exercise 6-17 a1-a3 (Video) Pina Colada Corp. reports the following for the month of June. Unit Cost Date June 1 $6 Explanation Units Inventory 340 Purchase 680 Purchase 510 Inventory 170 Total Cost $2,040 4,760 4,080 12 7 23 8 30 Assume a sale of 748 units occurred on June 15 for a selling price of $9 and a sale of 612 units on June 27 for $10. Calculate cost of goods available for sale. The cost of goods available for sale $ Calculate Moving-Average unit cost for June 1, 12, 15, 23 & 27. (Round answers to 3 decimal places, e.g. 2.525.) June 1 $ June 12 $ June 15 $ June 23 $ June 27 $ Calculate the cost of the ending inventory and the cost of goods sold for each cost flow assumption, using a perpetual inventory system. FIFO LIFO Moving-Average Cost The cost ending inventory $ The cost of goods sold $ $
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started