Perpetual System Calculating Ending Inventory and Cost of Sales using Moving Average

Upland Co.s inventory records showed the following data accounted for in a perpetual inventory system.

Date		Units	Unit Cost
June 1	Inventory	900	$8.00
June 3	Purchases	1,800	8.40
June 7	Sales (at $16 per unit)	1,260
June 20	Purchases	1,224	9.00
June 22	Sales (at $16 per unit)	1,980

What is (a) ending inventory on June 30, and (b) cost of goods sold for June, using the moving-average method?

• Round unit costs used in your calculations to two digits after the decimal. (For example, use a rate of $1.42 for $1.424 or use a rate of $1.43 for $1.425.)
• Round final answers to the nearest whole dollar.

a. Ending inventory on June 30
b. Cost of goods sold for June