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Melissa Company reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 480 $5 $2,400 12 Purchase
Melissa Company reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 480 $5 $2,400 12 Purchase 780 6 4,680 23 Purchase 980 7 6,860 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 850 units occurred on June 15 for a selling price of $8 and a sale of 880 units on June 27 for $9. (Round average cost per unit to 3 decimal places, e.g. 5.254 and final answers to 0 decimal places, e.g. 2,520.
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