Question
ronghorn Corp reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 120 $5 $600 12 Purchases
ronghorn Corp reports the following for the month of June.
| Date | Explanation | Units | Unit Cost | Total Cost | ||||
| June 1 | Inventory | 120 | $5 | $600 | ||||
| 12 | Purchases | 346 | 6 | 2,076 | ||||
| 23 | Purchases | 189 | 7 | 1,323 | ||||
| 30 | Inventory | 229 |
A sale of 375 units occurred on June 15 for a selling price of $8 and a sale of 51 units on June 27 for $9.
Calculate the average cost per unit, using a perpetual inventory system. (Round answers to 3 decimal places, e.g. 5.125.)
| June 1 | $ | |
| June 12 | $ | |
| June 15 | $ | |
| June 23 | $ | |
| June 27 | $ |
eTextbook and Media
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 375 units occurred on June 15 for a selling price of $8 and a sale of 51 units on June 27 for $9. (Round answers to 0 decimal places, e.g. 125.)
| FIFO | LIFO | Moving-Average | ||||
| The cost of the ending inventory | $ | $ | $ | |||
| The cost of goods sold | $ | $ | $ |
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