Question - Kiser Company reports the following for the month of June.
Date Explanation units units cost total cost
June 1 inventory 125 $5 $625
June 12 Purhase 375 $6 $2,250
June 23 Purchase 500 $7 $3,500
June 30 Inventory 200
Calculate the 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 430 units occurred on June 15 for a selling price of $8 and a sale of 370 units ib June 27 for $9.