Question
Moath Company reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 320 $8 $2,560 12 Purchase
Moath Company reports the following for the month of June.
Date | Explanation | Units | Unit Cost | Total Cost |
June 1 | Inventory | 320 | $8 | $2,560 |
12 | Purchase | 640 | 9 | 5,760 |
23 | Purchase | 480 | 10 | 4,800 |
30 | Inventory | 160 |
|
Assume a sale of704units occurred on June 15 for a selling price of $11and a sale of576units on June 27 for $12
Calculate Moving-Average unit cost for June 1, 12, 15, 23 & 27
June 1 | $ |
June 12 | $ |
June 15 | $ |
June 23 | $ |
June 27 | $ |
Calculate the cost of the ending inventory and the cost of goods sold for each cost flow assumption, using a perpetual inventory system.
The cost ending inventory FIFO LIFO
The cost ending inventory | $ | $ | $ |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started