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Ivanhoe Company uses a perpetual inventory system and reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1
Ivanhoe 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 140 $5 $700 12 Purchase 360 6 2,160 23 Purchase 220 7 1,540 30 Inventory 280 (a1) Your answer is correct. Calculate the weighted-average cost per unit, using a perpetual inventory system. Assume a sale of 400 units occurred on June 15 for a selling price of $8 and a sale of 40 units on June 27 for $9. (Round intermediate calculations to O decimal places, e.g. 152 and final answers to 3 decimal places, e.g. 5.125.) June 1 59 $ 5 Your answer is correct. Calculate the weighted-average cost per unit, using a perpetual inventory system. Assume a sale of 400 units occurred on June 15 for a selling price of $8 and a sale of 40 units on June 27 for $9. (Round intermediate calculations to O decimal places, e.g. 152 and final answers to 3 decimal places, e.g. 5.125.) June 1 5 June 12 $ 5.720 June 15 $ 5.720 June 23 $ 6.600 June 27 $ 6.600 (a2) 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 $8 and a sale of 40 units on June 27 for $9. (Round answers to O decimal places, e.g. 125.) Cost of the ending inventory $ Cost of goods sold 67 Save for Later FIFO 59 $ LIFO Moving-Average $ $ Attempts: 0 of 2 used Submit
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