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The following information is for the inventory of mini-kettles at Pronghorn Company Limited for the month of May. Units Sold Unit Price Total Date May
The following information is for the inventory of mini-kettles at Pronghorn Company Limited for the month of May. Units Sold Unit Price Total Date May 1 6 7 Units In 100 810 Unit Cost $4.00 4.40 Total $400 3,564 350 $7.20 7.40 $2,520 2,590 350 10 12 Transaction Balance Purchase Sale Sale Purchase Sale Purchase Sale Purchase Sale 450 5.00 2,250 15 250 8.00 2,000 18 340 4.80 1,632 22 450 7.60 3,420 510 4.60 2,346 25 30 Totals 250 7.60 1,900 $12,430 2,210 $10,192 1,650 Assuming that the perpetual inventory method is used, calculate the inventory cost at May 31 under FIFO. $ $ Ending inventory Assuming that the perpetual inventory method is used, calculate the inventory cost at May 31 under moving-average. (Round unit cost to 3 decimal places, eg. 52.752 and final answer to 2 decimal places, eg. 52.75.) $ Ending inventory
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