Grouper Corporation uses a perpetual inventory system. On November 19, the company sold 610 units. The...
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Grouper Corporation uses a perpetual inventory system. On November 19, the company sold 610 units. The following additional information is available: Unit Total Units Cost Cost Nov. 1 inventory 340 $12 $4,080 Nov. 15 purchase 440 16 7,040 Nov. 23 purchase 430 17 7,310 1,210 $18,430 Calculate the November 30 inventory and the November cost of goods sold, using the moving average cost formula. (Round unit cost to 2 decimal places, e.g. 52.75 and final answers to 0 decimal places. e.g. 5,275.) Cost of Goods Sold $ Ending Inventory $ Calculate the November 30 inventory and the November cost of goods sold, using the FIFO cost formula. Cost of Goods Sold $ Ending Inventory $ Grouper Corporation uses a perpetual inventory system. On November 19, the company sold 610 units. The following additional information is available: Unit Total Units Cost Cost Nov. 1 inventory 340 $12 $4,080 Nov. 15 purchase 440 16 7,040 Nov. 23 purchase 430 17 7,310 1,210 $18,430 Calculate the November 30 inventory and the November cost of goods sold, using the moving average cost formula. (Round unit cost to 2 decimal places, e.g. 52.75 and final answers to 0 decimal places. e.g. 5,275.) Cost of Goods Sold $ Ending Inventory $ Calculate the November 30 inventory and the November cost of goods sold, using the FIFO cost formula. Cost of Goods Sold $ Ending Inventory $
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Related Book For
Intermediate Accounting
ISBN: 978-0176509736
10th Canadian Edition, Volume 1
Authors: Donald Kieso, Jerry Weygandt, Terry Warfield, Nicola Young,
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