Perry Manufacturing Company provided the following information regarding its inventory transactions for the current year. Determine the
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Determine the ending inventory and cost of goods sold Perry should report assuming the firm uses the moving- average cost method (perpetual basis). Round per unit cost to two decimal places.
Transcribed Image Text:
Total Cost Transaction Beginning inventory 1/1 Purchases and Sales February 8 June 24 Units Sales in Units Unit Cost 8.000 S16 $128,000 4,000 1,800 13,800 21 4.000 41,400 $253,400 23 Subtotal September 18 December 24 Total available for sale Units sold September 18 5,500 3,000 16,900 (5,500) 11.300 26 78.000 $331.400 Ending inventory
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Related Book For
Intermediate Accounting
ISBN: 978-0132162302
1st edition
Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
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