Question - Moath Company reports the following for the month of June.
|
Date
|
Explanation
|
Units
|
Unit Cost
|
Total Cost
|
|
June 1
|
Inventory
|
204
|
$6
|
$1,224
|
|
June 12
|
Purchase
|
408
|
7
|
2,856
|
|
June 23
|
Purchase
|
306
|
8
|
2,448
|
|
June 30
|
Inventory
|
102
|
|
|
Assume a sale of 449 units occurred on June 15 for a selling price of $9 and a sale of 367 units on June 27 for $10.
Calculate the cost of the ending inventory and the cost of goods sold for each cost flow assumption, using a perpetual inventory system.