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Linda Company reports the following for the month of June. Unit Date: Explanation Units Total Cost Cost June 1 Inventory 300 $4 $1,200 12
Linda Company reports the following for the month of June. Unit Date: Explanation Units Total Cost Cost June 1 Inventory 300 $4 $1,200 12 Purchase 600 6 3,600 23 Purchase 770 8 6,160 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 670 units occurred on June 15 for a selling price of $8 and a sale of 700 units on June 27 for $9. (Round average cost per unit to 3 decimal places, e.g. 5.254 and final answers to O decimal places, e.g. 2,520.) FIFO Cost of the ending inventory $ Cost of goods sold LIFO $ Moving Average $
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