Question
Skysong, Inc. reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 250 $8 $2,000 12 Purchase
Skysong, Inc. reports the following for the month of June.
Date | Explanation | Units | Unit Cost | Total Cost | ||||||
June 1 | Inventory | 250 | $8 | $2,000 | ||||||
12 | Purchase | 500 | 9 | 4,500 | ||||||
23 | Purchase | 375 | 10 | 3,750 | ||||||
30 | Inventory | 125 |
Assume a sale of 550 units occurred on June 15 for a selling price of $11 and a sale of 450 units on June 27 for $12.
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. 1,252.)
FIFO | LIFO | Moving-Average Cost | ||||
The cost ending inventory | $ | $ | $ | |||
The cost of goods sold | $ | $ | $ |
Please leave a coment of how do you get the results. Thanks
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