Question

Kaleta Company reports the following for the month of June.


Instructions
(a) Calculate the cost of the ending inventory and the cost of goods sold for each cost low assumption, using a perpetual inventory system. Assume a sale of 440 units occurred on June 15 for a selling price of $8 and a sale of 360 units on June 27 for $9.
(b) How do the results differ from E6-6 and E6-8?
(c) Why is the average unit cost not $6 [($5 + $6 + $7) ÷ 3 =$6]?


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  • CreatedJanuary 30, 2014
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