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Grouper Corp. uses a perpetual inventory system reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory
Grouper Corp. uses a perpetual inventory system reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 150 $ 6 $ 900 12 Purchases 350 7 2.450 23 Purchases 240 8 1,920 30 Inventory 260 (a) Your Answer Correct Answer (Used) Your answer is correct. Calculate the average cost per unit, using a perpetual inventory system. Assume a sale of 420 units occurred on June 15 for a selling price of $ 9 and a sale of 60 units on June 27 for $ 10. (Round intermediate calculations to 0 decimal places, e.g. 5.250 and final answer to 3 decimal places, e.g. 5.125.) June 1 $ 6 June 12 $ 6.7 June 15 $ 6.7 June 23 $ 7.675 June 27 $ 7.675 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 420 units occurred on June 15 for a selling price of $ 9 and a sale of 60 units on June 27 for $ 10. (Round intermediate calculations and final answers to 0 decimal places, e.g. 125.) FIFO LIFO Moving-Average The cost of the ending inventory $ $ $ The cost of goods sold $ 1 $ $
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