Ayayai Furniture Ltd. uses a perpetual inventory system and has a beginning inventory, as at...
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Ayayai Furniture Ltd. uses a perpetual inventory system and has a beginning inventory, as at June 1, of 510 bookcases at a cost of $130 each. During June, the company had the following purchases and sales of bookcases Purchases Sales Date Units Unit cost Units Unit price June 6 1,240 $132 10 14 1,790 16 26 1,020 960 $191 133 1,680 196 134 Your answer is incorrect Determine the cost of goods sold and the cost of the ending inventory using the average cost formula. (Use unrounded numbers for average cost calculations. Round answers to 2 decimal places. eg 5.52.) Cost of goods sold Cost of the ending inventory
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