Kaleta Company uses the periodic inventory system and reports the below for the month of June. Units
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Question:
Kaleta Company uses the periodic inventory system and reports the below for the month of June. Units Unit Cost Total Cost
Units Unit Cost Total Cost
June 1 Inventory 200 $5 $1,000
June 12 Purchase 400 6 2,400
June 23 Purchase 300 7 2,100
June 30 Inventory 100
Required:
Calculate the cost of ending inventory and the cost of goods sold using the average cost method. (Round answers to 0 decimal places)
Ending inventory $
Cost of goods sold $
Related Book For
Accounting Principles
ISBN: 978-1118342190
11th Edition
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
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