Question: Inventory data for Kiser Company are presented in E6-7. Instructions (a) Calculate the cost of the ending inventory and the cost of goods sold for

Inventory data for Kiser Company are presented in E6-7.

Instructions

(a) Calculate the 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 430 units occurred on June 15 for a selling price of $8 and a sale of 370 units on June 27 for $9.

(b) How do the results differ from E6-7?

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