Question
Sandhill Co. reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 110 $5 $550 12 Purchases
Sandhill Co. reports the following for the month of June.
Date Explanation Units Unit Cost Total Cost
June 1 Inventory 110 $5 $550
12 Purchases 398 6 2,388
23 Purchases 199 7 1,393
30 Inventory 232
A sale of 423 units occurred on June 15 for a selling price of $8 and a sale of 52 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 $
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 423 units occurred on June 15 for a selling price of $8 and a sale of 52 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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The Law And Economics Of Patent Damages, Antitrust, And Legal Process
Authors: James Langenfeld, Frank Fagan, Samuel Clark
2nd Edition
1800710259, 9781800710252
