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(Part A) Hello, If anyone can help with this accounting question that would be amazing. Part A Lily Company reports the following for the month
(Part A) Hello, If anyone can help with this accounting question that would be amazing.
Part A
Lily Company reports the following for the month of June. Unit Cost Date Units June 1 Explanation Inventory Purchase 150 $10 Total Cost $1,500 4,950 4,800 12 450 11 23 Purchase 400 12 30 Inventory 80 Assume a sale of 500 units occurred on June 15 for a selling price of $13 and a sale of 420 units on June 27 for $14. Your answer is correct. Calculate cost of goods available for sale. The cost of goods available for sale 11250 e Textbook and Media Calculate Moving-Average unit cost for June 1, 12, 15, 23 & 27. (Round answers to 3 decimal places, e.g. 2.525.) June 1 $ 10 June 12 10.75 June 15 10.75 June 23 $ 11.75 June 27 11.75 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 O decimal places, e.g. 1,250.) FIFO LIFO Moving-Average Cost The cost ending inventory $ $ A A The cost of goods sold $ $Step by Step Solution
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