Question: Jakarta Ltd. uses a periodic inventory system. For June, when the company sold 600 units, the following information is available. Compute the June 30 inventory

Jakarta Ltd. uses a periodic inventory system. For June, when the company sold 600 units, the following information is available.
Units Unit Cost Total Cost € 750 June 1 inventory 150 €5 June 15 purchase 600 6 3,600 June 23 purchase 400 3,200 1,1

Compute the June 30 inventory and the June cost of goods sold using the average-cost method. (Round unit costs to two decimal points.)

Units Unit Cost Total Cost 750 June 1 inventory 150 5 June 15 purchase 600 6 3,600 June 23 purchase 400 3,200 1,150 7,550

Step by Step Solution

★★★★★

3.50 Rating (167 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

Weighted average cost per unit 7550 ... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Document Format (1 attachment)

Word file Icon

1353-B-M-A-I(3917).docx

120 KBs Word File

Students Have Also Explored These Related Managerial Accounting Questions!

Q:

Amsterdam Company uses a periodic inventory system. For April, when the company sold 600 units, the following information is available. Compute the April 30 inventory and the April cost of goods sold...

Q:

Moorea Corp. uses a periodic inventory system. On June 24, the company sold 600 units. The following additional information is available: (a) Calculate the June 30 inventory and the June cost of...

Q:

More & More Limited uses a periodic inventory system. On June 24, the company sold 600 units. The following additional information is available: (a) Calculate the June 30 inventory and the June cost...

Q:

SACM VACM American College of the Middle East TAP4 Assignment 15% - Version 2 ACT340 Intermediate Accounting - Chapter 8 Exercise 1 (15 points) Part 1 Multiple Choice Questions - Choose one right...

Q:

Jakarta Ltd. uses a periodic inventory system. For June, when the company sold 600 units, the following information is available. Units Unit Cost Total Cost June 1 inventory 150 5 750 June 15...

Q:

BE7.4 (LO 3) Jakarta Ltd. uses a periodic inventory system. For June, when the company sold 600 units, the following information is available. Units Unit Cost Total Cost June 1 inventory 150 5 750...

Q:

BE 8 . 4 ( LO 3 ) Jakarta Ltd . uses a periodic inventory system. For June, when the company sold 6 0 0 units, the following information is available. Compute the June 3 0 inventory and the June cost...

Q:

8 Bonita Ltd, uses a periodic inventory system. For June, when the company sold 600 units, the following information is available. Units Unit Cost Total Cost June 1 inventory 180 5 900 June 15...

Q:

1. Wilton, Inc. had net sales in 2020 of $1,400.000. At December 31, 2020, before adjusting entries, the balances in selected accounts were as follows: Accounts Receivable $250,000 OR Allowance for...

Q:

s PRINTER VERSION Pronghom Limited uses a periodic inventory system. On June 24, the company sold 600 units. The following additional information is available: 4 BACK NEXT Units Cost $11 200 June 1...

Q:

The Gale Company has the following inventory and purchases during the fiscal year ended December 31, 2014. Required: 1. Calculate the dollar value of ending inventory and cost of goods sold using: a....

Q:

A large supermarket chain has a centralized bakery facility that prepares frosting for three service centers and two stores (revenue centers). The $40,000 cost of preparing the frosting is assigned...

Q:

1 6 A bond's main characteristics include Multiple Choice 0 1 : 4 1 : 1 1 the date the principal will be paid. the par value of each bond. the coupon rate.

Q:

Is the organization able to forge and manage a strategic alliance?

Q:

The qualitative characteristics that make accounting information useful for decision-making purposes are as follows. Relevance Neutrality Verifiability Faithful representation Completeness...

Q:

The qualitative characteristics that make accounting information useful for decision-making purposes are as follows. Relevance Neutrality Verifiability Faithful representation Completeness...

Q:

Presented below are a number of operational guidelines and practices that have developed over time. Instructions Select the assumption, principle, or constraint that most appropriately justifies...

Q:

Please show work The cost of preferred stock Firms Chat carry preferred stock In their capital mix want to not only distribute dividends Co common stockholders but also maintain credibility in the...

Q:

In the hit song "How 'Ya Gonna Keep 'Em Down on the Farm" we listened to this week, Who is hard to keep down on the farm? O The livestock who keep escaping due to poor fencing. O The livestock who...

Q:

Quantitative Problem: Bellinger Industries is considering two projects for inclusion in its capital budget, and you have been asked to do the analysis. Both projects' after-tax cash flows are shown...