Plato Company reports the following for the month of June. Date Explanation Units Unit Cost Total Cost
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Question:
Plato Company reports the following for the month of June.
Date | Explanation | Units | Unit Cost | Total Cost |
---|---|---|---|---|
June 1 | Inventory | 225 | $5 | $1,125 |
12 | Purchase | 525 | 6 | 3,150 |
23 | Purchase | 750 | 7 | 5,250 |
30 | Inventory | 330 | - |
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 570 units occurred on June 15 for a selling price of $8 and a sale of 600 units on June 27 for $9. Round average cost per unit to 3 decimal places and final answers to 0 decimal places.
Related Book For
Financial Accounting Tools for Business Decision Making
ISBN: 978-1118644942
6th Canadian edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine
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