Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Use the following information for the month of June for the following four questions XYZ Inc. uses the average cost formula in a perpetual inventory

image text in transcribed
Use the following information for the month of June for the following four questions XYZ Inc. uses the average cost formula in a perpetual inventory system. (Use unrounded numbers in your calculations but round to the nearest cent for presentation purposes in your answer.) Jun 1 Beginning inventory 20 units @ $19.00 per unit Jun 5 Purchase 100 units @ $22.00 per unit Jun Sale 70 units Jun 9 Purchase 80 units @ 22.31 per unit Jun 10 Sale 25 units Jun 22 Sale 40 units DO NOT ADD COMMAS, SPACES, OR DOLLAR SIGNS. ROUND TO TWO DECIMAL POINTS, E.g., 1234.99 8 Cost of goods sold for the June 8 sale was: Cost of goods sold for the June 10 sale was: Total cost of goods sold for the month of June is: XYZ Inc. has an ending inventory on June 30 of: A/

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions