Question
Sunland Ltd. reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 208 5 1,040 June 12
Sunland Ltd. reports the following for the month of June.
Date | Explanation | Units | Unit Cost | Total Cost | |||||
June | 1 | Inventory | 208 | 5 | 1,040 | ||||
June | 12 | Purchase | 312 | 6 | 1,872 | ||||
June | 23 | Purchase | 520 | 7 | 3,640 | ||||
June | 30 | Inventory | 199 |
Calculate the cost of the ending inventory and the cost of goods sold for FIFO, using a perpetual inventory system. Assume a sale of 408 units occurred on June 15 for a selling price of 8 and a sale of 433 units on June 27 for 9. (Round answers to 0 decimal places, e.g. 2,120.)
FIFO | |||
The cost ending inventory | ----------? | ||
The cost of goods sold | ----------? |
Calculate the cost of the ending inventory and the cost of goods sold for moving-average cost, using a perpetual inventory system. Assume a sale of 408 units occurred on June 15 for a selling price of 8 and a sale of 433 units on June 27 for 9. (Round average unit cost to 3 decimal places, e.g. 25.167 and final answers to 0 decimal places, e.g. 2,120.)
Moving-Average Cost | ||
The cost ending inventory | ---------? | |
The cost of goods sold | --------? |
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