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Inventory Costing: Average Cost Filimonov Inc. has the following information related to purchases and sales of one of its inventory items: Date Description Units
Inventory Costing: Average Cost Filimonov Inc. 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 Cost of ending inventory June 1 Beginning Inventory 9 Purchase 1 14 Sale 1 22 Purchase 21 29 Sale 2 150 units $10-$1,500 200 units $12-$2,400 300 units $25 250 units $14-$3,500 229 units @ $25 Assume that Filimonov uses a perpetual inventory system. Required: Calculate the cost of goods sold and the cost of ending inventory using the average cost method. (Nope: Round per-unit calculations to 4 decimal places and al other numbers to the nearest dollar.) Cost of goods sold E
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