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Sheridan Company reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 150 $6 $900 12 Purchase
Sheridan Company reports the following for the month of June.
Date | Explanation | Units | Unit Cost | Total Cost | ||||||
---|---|---|---|---|---|---|---|---|---|---|
June 1 | Inventory | 150 | $6 | $900 | ||||||
12 | Purchase | 450 | 7 | 3,150 | ||||||
23 | Purchase | 400 | 8 | 3,200 | ||||||
30 | Inventory | 80 |
Assume a sale of 500 units occurred on June 15 for a selling price of $9 and a sale of 420 units on June 27 for $10.
(a3) Calculate the cost of the ending inventory and the cost of goods sold for each cost flow assumption, using a perpetual inventory system. (Round average-cost per unit to 3 decimal places, e.g. 12.520 and final answer to 0 decimal places, e.g. 1,250.) FIFO LIFO Moving-Average Cost The cost ending inventory ta $ The cost of goods sold $ $ ta $ e Textbook and MediaStep by Step Solution
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