Question
Moath Company reports the following for the month of June. Date Explanation Units Unit Cost Total Cost 6/01 Inventory 204 $6 $1,224 6/12 Purchase 408
Moath Company reports the following for the month of June.
Date Explanation Units Unit Cost Total Cost
6/01 Inventory 204 $6 $1,224
6/12 Purchase 408 $7 $2,856
6/23 Purchase 306 $8 $2,448
6/30 Inventory 102
Assume a sale of449units occurred on June 15 for a selling price of $9and a sale of367units on June 27 for $10.
Calculate Moving-Average unit cost for June 1, 12, 15, 23 & 27.
6/01 $_____
6/12 $_____
6/15 $_____
6/23 $_____
6/27 $______
Calculate the cost of the ending inventory and the cost of goods sold for each cost flow assumption, using a perpetual inventory system.(Round average-cost per unit to 3 decimal places, e.g. 12.520 and final answer to 0 decimal places, e.g. 1,250.)
FIFO LIFO Moving-Average Cost
The cost ending inventory $ $ $ $The cost of goods sold $ $ $
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