Question

CALCULATOR FULL SCREEN PRINTER MIRROR OURCES Exercise 6-14 01 (Part Level Submission) Ivanhoe Company uses a periodic Inventory system reports the following for the month of June. Date Explanation Unit Cost Total Cost Dune 1 Inventory 130 35 3650 12 Purchase 370 6 23 Purchases 215 7 1.505 30 Inventory 270 A sale of 400 units occurred on Sune 15 for a selling price of $8 and a sale of 45 units on June 27 for $9. (a) Your answer is correct Calculate the werage cost per unit, using a perpetua inventory system (Round intermediate calculations to decimal places, s. 5.50 and flower to 3 decima places, e.. 5.125) June 12 5.740 5.740 491 PM Type here to search BE 9

Answer 1

	FIFO	LIFO	Avg
Cost of ending inventory	1835	1690	1782
Cost of goods sold	2540	2685	2593

Available for sale Cost Total FIFO Cost of goods sold Cost Total Ending inventory Cost Total Date Unit Unit Unit Jun-01 Jun-12 130 $ 370 $ 5$ 6 $ 650 2,220 130 $ 130 $ 370 $ 5 $ 5 $ 6 $ 650 650 2,220 Jun-15 130 $ 270 $ 5 $ 6 $ 650 1,620 Jun-23 215$ 7 $ 1,505 100 $ 100 $ 215 $ 55 $ 2150 $ 6 $ 6 $ 7 $ 6 $ 7 $ $ Jun-27 45 $ 600 600 1,505 330 1,505 1,835 6 $ 270 $ 2,540 Purchases Unit Cost LIFO Cost of goods sold Cost Total Inventory in hand Cost Total Date Unit Unit Jun-01 Jun-12 130 $ 370 $ 5 $ 6$ 650 2,220 130 $ 130 $ 370 $ 5 $ 5 $ 6 $ 650 650 2,220 Jun-15 370 $ 301 $ 6 $ 5 $ 2,220 150 Jun-23 215$ 7$ 1,505 100 $ 100 $ 215 $ 100 $ 1700 $ 5$ 5 $ 7 $ 5$ 7 $ $ 500 500 1,505 500 1,190 1,690 Jun-27 45 $ 7 $ 315 $ 2,685

Purchases Unit Cost AVCO Cost of goods sold Cost Total Inventory in hand Cost Total Date Unit Unit 130 $ 5.00 $ 650 Jun-01 Jun-12 130$ 370 $ 5$ 6 $ 650 2,220 500 $ 5.74 $ 2,870 Jun-15 400 $ 5.74 $ 2,296 100 $ 5.74 $ 574 Jun-23 215 $ 7$ 1,505 315 $ 6.60 $ 2,079 450 $ 6.60 $ 297 Jun-27 Total 270 $ $ 6.60 $ 1,782.00 $ 1,782 $ 2,593