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Inventory Costing: Average Cost Bordeaux Company has the following information related to purchases and sales of one of its inventory items: Date Description Units
Inventory Costing: Average Cost Bordeaux Company has the following information related to purchases and sales of one of its inventory items: Date Description Units Purchased at Cost Units Sold at Retail June 1 Beginning Inventory 150 units $10-$1,500 9 Purchase 1 200 units $12-$2,400 14 Sale 11 22 Purchase 2 300 units $25 250 units @$14-$3,500 29 Sale 2 213 units $25 Assume that Bordeaux uses a perpetual inventory system. Required: Calculate the cost of goods sold and the cost of ending inventory using the average cost method. (Note: Round per-unit calculations to 4 decimal places and al other numbers to the nearest dollar.) Cost of goods sold Cost of ending inventory
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