Question: inventory data for Jeters 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 Jeters 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 410 units occurred on June 15 for a selling price of $8 and a sale of 50 units on June 27 for $9. (Note: For the moving-average method, round unit cost to three decimal places.) (b) How do the results differ from E6-7? (c) Why is the average unit cost not $6 [($5 +$6 $7)3 $6]? 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 410 units occurred on June 15 for a selling price of $8 and a sale of 50 units on June 27 for $9. (Note: For the moving-average method, round unit cost to three decimal places.) (b) How do the results differ from E6-7? (c) Why is the average unit cost not $6 [($5 +$6 $7)3 $6]

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