Question
Saturn Company reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 225 $5 $1,125 12 Purchase
Saturn Company reports the following for the month of June.
| Date | Explanation | Units | Unit Cost | Total Cost |
| June 1 | Inventory | 225 | $5 | $1,125 |
| 12 | Purchase | 525 | 6 | 3,150 |
| 30 | Inventory | 180 |
|
|
A sale of 570 units occurred on June 15 for a selling price of $8.
Calculate the cost of ending inventory AND cost of goods sold for the month of June using moving average. Show all work for full credit. Bold your final answer for ending inventory and cost of goods sold.
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Accounting Tools for Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
6th edition
