Question

Exercise 6-14 a-b1 Teal Mountain Inc. uses a perpetual inventory system reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 130 $4 $520 12 Purchases 390 5 1,950 23 Purchases 230 6 1,380 30 Inventory 250 Partially correct answer. Your answer is partially correct. Try again. Calculate the average cost per unit, using a perpetual inventory system. Assume a sale of 450 units occurred on June 15 for a selling price of $7 and a sale of 50 units on June 27 for $8. (Round answers to 3 decimal places, e.g. 5.125.) June 1 $enter a dollar amountEntry field with correct answer 4.000 June 12 $enter a dollar amountEntry field with correct answer 4.750 June 15 $enter a dollar amountEntry field with correct answer 4.750 June 23 $enter a dollar amountEntry field with incorrect answer 5.600 June 27 $enter a dollar amountEntry field with incorrect answer 5.600 Incorrect answer. Your answer is incorrect. Try again. 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 450 units occurred on June 15 for a selling price of $7 and a sale of 50 units on June 27 for $8. (Round answers to 0 decimal places, e.g. 125.) FIFO LIFO Moving-Average The cost of the ending inventory $enter a dollar amountEntry field with incorrect answer $enter a dollar amountEntry field with incorrect answer $enter a dollar amountEntry field with incorrect answer The cost of goods sold $enter a dollar amountEntry field with incorrect answer $enter a dollar amountEntry field with incorrect answer $enter a dollar amountEntry field with incorrect answer

Answer 1