Determine a perpetual inventory system


Exercise 6-12
Eggers Company reports the following for the month of June.

Date
Explanation
Units
Unit Cost
Total Cost
June 1
Inventory
200
$8
$ 1,600
June 12
Purchases
617
10
6,170
June 23
Purchases
333
12
3,996
June 30
Inventory
384





A sale of 683 units occurred on June 15 for a selling price of $13 and a sale of 83 units on June 27 for $15.

Calculate the average cost per unit, using a perpetual inventory system. (Round answers to 3 decimal places, e.g. 5.125.)

June 1
$
June 12
$
June 15
$
June 23
$
June 27
$


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 683 units occurred on June 15 for a selling price of $13 and a sale of 83 units on June 27 for $15. (Round answers to 0 decimal places, e.g. 125.)



FIFO
LIFO
Moving-Average
The cost of the ending inventory
$
$
$
The cost of goods sold
$
$
$


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Accounting Basics: Determine a perpetual inventory system
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