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Calculate the cost of goods sold and the cost of ending

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Reference no: EM13481912

Inventory Costing: Average Cost

Bordeaux Company has the following information related to purchases and sales of one of its inventory items:

Date Description Units Purchased at Cost Units Sold at Retail
June 1 Beginning Inventory 150 units @ $10 = $1,500
9 Purchase 1 200 units @ $12 = $2,400
14 Sale 1
300 units @ $25
22 Purchase 2 250 units @ $14 = $3,500
29 Sale 2
240 units @ $25

Assume that Bordeaux uses a perpetual inventory system.

Required:

Calculate the cost of goods sold and the cost of ending inventory using the average cost method. (Use four decimal places for per unit calculations and round all other numbers to the nearest dollar.)

Cost of goods sold $
Cost of ending inventory $

Reference no: EM13481912

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