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part b

PRINTER VERSION BACK CALCULATOR FULL SCREEN Exercise 6-14 a-b1 (Part Level Submission) Flounder Corp. Uses a periodic inventory system reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 120 $5 $600 12 Purchases 380 6 2,280 23 Purchases 210 7 1,470 30 Inventory 255 A sale of 400 units occurred on June 15 for a selling price of $9 and a sale of 55 units on June 27 for $10. Your answer is correct. Calculate the average cost per unit, using a perpetual inventory system. (Round intermediate calculations to o decimal places, e.g. 5.250 and final answer to 3 decimal places, e.g. 5.125.) June 1 5.000 June 12 5.760 June 15 5.760 June 23 6.600 NEXT June 27 6.600 SHOW SOLUTION SHOW ANSWER LINK TO TEXT LINK TO VIDEO Attempts: 4 of 5 used (61) x Your answer is incorrect. Try again. udy Calculate cost of the ending inventory and the cost of goods sold for each cost flow assumption, using a perpetual inventory system. Assume a sale of 400 units occurred on June 15 for a selling price of $9 and a sale of 55 units on June 27 for $10. (Round Intermediate calculations and final answers to o decimal places, e.g. 125.) FIFO LIFO The cost of the ending inventory Moving Average 1528.12 1580 4220 The cost of goods sold 2640 4220 2691.75 LINK TO TY

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