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Susan Company reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 660 $5 $3,300 12
Susan Company reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 660 $5 $3,300 12 Purchase 960 6 5,760 23 Purchase 1,180 7 8,260 Moving Average Calculate the cost of the ending inventory and the cost of goods sold for each cost flow assumption, using a perpetual inventory system. Assume a sale of 1,030 units occurred on June 15 for a selling price of $8 and a sale of 1,060 units on June 27 for $9. (Round average cost per unit to 3 decimal places, e.g. 5.254 and final answers to O decimal places, e.g. 2,520.) FIFO Cost of the ending inventory Cost of goods sold A LIFO $ A
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