Calculate Moving-Average unit cost for June

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Question - Inventory data for Oriole Company are reported as follows.

Date

Explanation

Units

Unit Cost

Total Cost

June 1

Inventory

200

$5

$1,000

June 12

Purchase

600

6

3,600

June 23

Purchase

350

7

2,450

June 30

Inventory

120



Assume a sale of 650 units occurred on June 15 for a selling price of $10 and a sale of 380 units on June 27 for $9.

Required -

1. Calculate cost of goods available for sale.

2. Calculate Moving-Average unit cost for June 1, 12, 15, 23 & 27.

3. Calculate the cost of the ending inventory and the cost of goods sold for each cost flow assumption, using a perpetual inventory system.

Reference no: EM133116686

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