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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 Purchased
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 Beginning Inventory units @ $ $
Purchase units @ $ $
Sale units @ $
Purchase units @ $ $
Sale units @ $
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 perunit calculations to decimal places and al other numbers to the nearest dollar.
Cost of goods sold $fill in the blank
Cost of ending inventory $fill in the blank
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