Question

Can someone help me?

1)

Grouper Corp.reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 120 $600 12 Purchases 391 6 2,346 23 Purchases 210 1.470 30 Inventory 233 A sale of 441 units occurred on June 15 for a selling price of $7 and a sale of 47 units on June 27 for $8.

Answer 1

Date Average Cost Cost of goods available for sale Cost of Goods Sold Inventory Balance Cost per # of Units Cost of goods # of Units Avg. Cost Cost of goods Date # of Units Cost per unit Inventory balance 1 unit available for sale sold per unit sold 01-Jun 120 $ 5.00 $ 600.00 120 $ 5.000 $ 600.00 12-Jun 391 $ 6.00 $ 2,346.00 120 $ 5.000 $ 600.00 391 $ 6.000 $ 2,346.00 Average cost = Total Inventory cost / Total units ($ 2,946 / 511 units) 5.765 $ 2,946.00 15-Jun | 441 $ 5.765 $ 2,542 70 $ 5.765 $ 403.56 23-Jun 210 $ 7.00 $ 1,470.00 70 $ 5.765 $ 403.56 210 $ 7.000 $ 1,470.00 Average cost = Total Inventory cost/Total units ($ 1,873.56 /280 units) 280 $ 6.691$ 1,873.56 27-Jun 47 $ 6.691 $ 314 233 $ 6.691 $ 1,559.07 June 1 June 12 June 15 $ $ $ $ $ 5.000 5.765 5.765 6.691 6.691 June 23 June 27