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Some of the information found on a detailed inventory card for Sarasota Stationery Ltd. for May is as follows: Received Unit Issued No. of Units
Some of the information found on a detailed inventory card for Sarasota Stationery Ltd. for May is as follows: Received Unit Issued No. of Units No. of Units Date May 1 (opening balance) 1,170 1,070 Cost $2.90 3.00 710 610 3.20 Balance No. of Units 1,170 2,240 1,530 2,140 1,620 2,320 1,220 1,740 2540 (1220+1320 = 2540) 2,540 1740 (2540-80o = 1740) 3,280 1,930 1,000 3.30 520 300 1,100 1,320 3.40 800 1,540 3.60 1,350 Assume the perpetual inventory record is kept in dollars, and costs are calculated at the time of each withdrawal. Recalculate the amounts under this revised assumption. (Round average unit costs to 4 decimal places, e.g. 52.7521 and final answers to 2 decimal places, e.g. 52.75.) Ending Inventory First-in, first-out (FIFO) $ Moving average cost $ 6615.62
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