Martin Matthew runs a mobile parts and supplies store. During the 2019-2020 financial year, this store has the following transactions. Ignore GST.

Required: 

Using a perpetual system and the moving average method, calculate the cost of the year-end inventory and the cost of sales.

Transcribed Image Text:

July 1 Aug. 14 Sept.25 Jan. 8 Mar. 3 Apr. 13 Jun. 10 2 Beginning Inventory< Purchased Sold Purchased Purchased Sold Sold 10 20< 16 15 54 20 54 @ $115 $1,150< @ $100 = $2,000< = @ $125 $1,875< @ $130 = = $650 ( July 1 Aug. 14 Sept.25 Jan. 8 Mar. 3 Apr. 13 Jun. 10 2 Beginning Inventory< Purchased Sold Purchased Purchased Sold Sold 10 20< 16 15 54 20 54 @ $115 $1,150< @ $100 = $2,000< = @ $125 $1,875< @ $130 = = $650 (

Answer rating: 100% (QA)

Step 11 Under Moving average method average cost per unit is calculated ... View the full answer