Ivanhoe Company uses a perpetual inventory system and reports the following for the month of June....
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Ivanhoe Company uses a perpetual inventory system and reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 130 $5 $650 12 Purchase 370 6 2.220 23 Purchase 200 7 1,400 30 Inventory 250 (a1) Calculate the weighted-average cost per unit, using a perpetual inventory system. Assume a sale of 400 units occurred on June 15 for a selling price of $8 and a sale of 50 units on June 27 for $9. (Round Intermediate calculations to 0 decimal places, eg. 152 and final answers to 3 decimal places, eg. 5.125 June 1 $ June 12 $ June 15 $ June 23 $ June 27 $ (a2) Calculate the cost of the ending inventory and the cost goods sold for each cost flow assumption, using a perpetual inventory system. Assume a sale of 400 units occurred on June 15 for a selling price of $8 and a sale of 50 units on June 27 for $9. (Round answers to O decimal places, eg. 125.) FIFO Cost of the ending inventory $ Cost of goods sold LIFO Moving-Average Ivanhoe Company uses a perpetual inventory system and reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 130 $5 $650 12 Purchase 370 6 2.220 23 Purchase 200 7 1,400 30 Inventory 250 (a1) Calculate the weighted-average cost per unit, using a perpetual inventory system. Assume a sale of 400 units occurred on June 15 for a selling price of $8 and a sale of 50 units on June 27 for $9. (Round Intermediate calculations to 0 decimal places, eg. 152 and final answers to 3 decimal places, eg. 5.125 June 1 $ June 12 $ June 15 $ June 23 $ June 27 $ (a2) Calculate the cost of the ending inventory and the cost goods sold for each cost flow assumption, using a perpetual inventory system. Assume a sale of 400 units occurred on June 15 for a selling price of $8 and a sale of 50 units on June 27 for $9. (Round answers to O decimal places, eg. 125.) FIFO Cost of the ending inventory $ Cost of goods sold LIFO Moving-Average
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