Question - Pina Colada Corp. reports the following for the month of June.
|
Date
|
Explanation
|
Units
|
Unit Cost
|
Total Cost
|
|
June 1
|
Inventory
|
122
|
$5
|
$610
|
|
June 12
|
Purchases
|
386
|
6
|
2,316
|
|
June 23
|
Purchases
|
186
|
7
|
1,302
|
|
June 30
|
Purchases
|
211
|
|
|
Calculate weighted-average unit cost.
Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost.