Question
Windsor, Inc. reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 270 $ 6 $ 1,620
Windsor, Inc. reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 270 $ 6 $ 1,620 12 Purchase 540 7 3,780 23 Purchase 405 8 3,240 30 Inventory 135 Assume a sale of 594 units occurred on June 15 for a selling price of $ 9 and a sale of 486 units on June 27 for $ 10.
Calculate the cost of the ending inventory and the cost of goods sold for each cost flow assumption, using a perpetual inventory system. (Round average-cost per unit to 3 decimal places, e.g. 12.520 and final answer to 0 decimal places, e.g. 1,252.)
fifo | lifo | Moving-Average Cost | |
The cost ending inventory | |||
The cost of goods sold |
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