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Find LIFO and Moving-Average Sandhill Company uses a perpetual inventory system and reports the following for the month of June. Date Explanation Units Unit Cost
Find LIFO and Moving-Average
Sandhill Company uses a perpetual inventory system and reports the following for the month of June.
Date | Explanation | Units | Unit Cost | Total Cost | ||||
---|---|---|---|---|---|---|---|---|
June 1 | Inventory | 120 | $5 | $600 | ||||
12 | Purchase | 380 | 6 | 2,280 | ||||
23 | Purchase | 210 | 7 | 1,470 | ||||
30 | Inventory | 260 |
|
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 400 units occurred on June 15 for a selling price of $9 and a sale of 50 units on June 27 for $10. (Round answers to 0 decimal places, e.g. 125.)
Sandhill Company uses a perpetual inventory system and reports the following for the month of June. June 1$ June 12$ June 15$ June 23$ June 27$
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