The average cost inventory method relies on a simple average calculation.

Sarasota Corp. reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 129 $645 12 Purchases 353 2,118 23 Purchases 217 1,519 30 Inventory 275 A sale of 376 units occurred on June 15 for a selling price of $8 and a sale of 48 units on June 27 for $9. Calculate the average cost per unit, using a perpetual inventory system. (Round answers to 3 decimal places, e.g. 5.125.) June 1 $ June 12 $ June 15 $ June 23 $ June 27 $ e Textbook and Media Calculate 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 376 units occurred on June 15 for a selling price of $8 and a sale of 48 units on June 27 for $9.(Round answers to 0 decimal places, e.g. 125.) June 1 $ June 12 $ June 15 $ June 23 $ June 27 $ e Textbook and Media Calculate 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 376 units occurred on June 15 for a selling price of $8 and a sale of 48 units on June 27 for $9. (Round answers to 0 decimal places, e.g. 125.) FIFO LIFO Moving-Average The cost of the ending inventory The cost of goods sold e Textbook and Media