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Calculate the average cost per unit

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Question - Flounder 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

392

6

2,352

June 23

Purchases

185

7

1,295

June 30

Inventory

221

 

 

A sale of 428 units occurred on June 15 for a selling price of $9 and a sale of 50 units on June 27 for $10.

Calculate the average cost per unit, using a perpetual inventory system.

Calculate cost of the ending inventory and the cost of goods sold for each cost flow assumption, using a perpetual inventory system. Assume a sales of 428 units occurred on June 15 for a selling price of $9 and a sale of 50 units on June 27 for $10.

Reference no: EM131692113

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