Moath Company reports the following for the month of June.
| Date |
Explanation |
Units |
Unit Cost |
Total Cost |
| June 1 |
Inventory |
320 |
$8 |
$2,560 |
| 12 |
Purchase |
640 |
9 |
5,760 |
| 23 |
Purchase |
480 |
10 |
4,800 |
| 30 |
Inventory |
160 |
|
Assume a sale of 704 units occurred on June 15 for a selling price of $11 and a sale of 576 units on June 27 for $12
Calculate Moving-Average unit cost for June 1, 12, 15, 23 & 27
Calculate the cost of the ending inventory and the cost of goods sold for each cost flow assumption, using a perpetual inventory system.