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Riverbed Corp uses a perpetual inventory system. Data for product E2-D2 include the purchases shown below. Date Number of Units Unit Price May 7 44
Riverbed Corp uses a perpetual inventory system. Data for product E2-D2 include the purchases shown below.
Date | Number of Units | Unit Price | ||
May 7 | 44 | $15 | ||
July 28 | 33 | 20 |
On June 1, Riverbed Corp sold 22 units, and on August 27, 33 more units.
a/ Calculate the average cost per unit.
June 1 sale:
Aug 27 sale:
b/ Compute the cost of goods sold using FIFO, LIFO, and average cost.
Cost of goods sold |
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