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Pina Colada Corp uses a perpetual inventory system reports the following for the month of june calculate cost of the ending inventory and the cost
Pina Colada Corp uses a perpetual inventory system reports the following for the month of june
calculate 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 430 units occurred on June 15for a selling price of $7. and a sale of 55 units on June 27 for $8.
the question is asking for all 3. the cost of the ending inventory FIFO, LIFO, Moving Average. as well as the COst of good sold under FIFO, LIFO and Moving Average.
Date Explanation Units Unit Cost Total Cost Inventory 130 $4 $520 12 Purchases 390 5 1,950 23 Purchases 230 6 1,380 30 Inventory 265 Calculate 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 430 units occurred on June 15 for a selling price of $7 and a sale of 55 units on June 27 for $8. (Round answers to 0 decimal places, e.g. 125.) (Col)Step by Step Solution
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