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(Appendix 6B) Inventory Costing Methods: Periodic Average Cost

Bordeaux Company has the following information related to purchases and sales of one of its inventory items:

Date

Description

Units Purchased at Cost

Units Sold at Retail

June 1 Beginning Inventory

150 units @ $6 = $900

9

Purchase 1

200 units @ $12 = $2,400

14

Sale 1

300 units @ $25

22 Purchase 2

250 units @ $14 = $3,500

29

Sale 2

225 units @ $25

Assume that Bordeaux uses a periodic inventory system.

Required:

Calculate the cost of goods sold and the cost of ending inventory using the average cost method. (Note: Use four decimal places for per-unit calculations and round all other numbers to the nearest dollar.)

(Appendor 68) tiventory Costing Methods: Periadic Average Cost Bordesux Company has the following information related to purchases and sales of one of its inventory items Assume that Borseaux uses a geriodic inventsry system Required: Caicuate the cost of gobds told and the cont of onding inventory using the average cost methed. Whote: Use four decimal places for per-unit calculations and round all other numbers to the nearest dollar.)