I have a couple questions in my accounting class for the final. This is one...
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Accounting
I have a couple questions in my accounting class for the final. This is one of them..
Moath Company reports the following for the month of June.
Date Explanation Units Unit Cost Total Cost
1 Inventory 220 $6 $1,320
12 Purchase 440 7 3,080
23 Purchase 330 8 2,640
30 Inventory 110
Assume a sale of 484 units occurred on June 15 for a selling price of $9 and a sale of 396 units on June 27 for $10.
Calculate Moving-Average unit cost for June 1, 12, 15, 23 & 27. (Round answers to 3 decimal places, e.g. 2.525.)
June 1
June 12
June 15
June 23
June 27
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. 1,250.)
FIFO LIFO Moving-Average Cost
The cost ending inventory
The cost of goods sold
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