l T-Mobile LTE Done 1:12 PM ?* edugen.Wileyplus.com Exercise 6-17 a1-a3 (Video)

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l T-Mobile LTE Done 1:12 PM ?* edugen.Wileyplus.com Exercise 6-17 a1-a3 (Video) Coronado Company reports the following for the month of June Date Explanation Units Cost Cost June 1 Inventory 12 Purchase 23 Purchase 30 Inventory 450 400 80 $450 2,700 2,800 7 Assume a sale of 500 units occurred on June 15 for a selling price of $8 and a sale of 420 units on June 27 for $9 Calculate cost of goods available for sale. The cost of goods available for sale Calculate Moving-Average unit cost for June 1, 12, 15, 23 & 27. (Round answers to 3 decimal places, e.g. 2.525 June i s une 12 une 15 June 23 June 27 Calculate the cost of the ending inventory and the cost of goods sold for each cost flow assumption, using a perpetual inventory system. (Round average-cost per unit to 3 decimal places, e.g. 12.520 and final answer to 0 decimal places, e.g. 1,250.) The cost ending inventorys The cost of goods sols Click if you would like to Show Work for this question: Oeen Show Work

Explanation / Answer

Cost of goods available for sale: Opening inventory + Purchases = 450 + (2700+2800)=5950 Moving Average cost for 1-Jun 450/150 =$3 per unit 12-Jun (450+2700)/(150+450) = $5.25 per unit 15-Jun 525/100 = $5.25 per unit 23-Jun (525+2800)/(100+400) = $6.65 per unit 27-Jun 532/80 = $6.65 per unit FIFO LIFO MOV-AVG COST The cost ending inventory 80*7=560 80*3=240 532 The cost of goods sold 5950-560=5390 5950-240=5710 5950-532=5418

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