Current Attempt in Progress Sunland Company reports the following for the month of June. ...
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Accounting
Current Attempt in Progress
Sunland Company reports the following for the month of June.
Date
Explanation
Units
Unit Cost
Total Cost
June 1
Inventory
150
$2
$300
12
Purchase
450
5
2,250
23
Purchase
400
6
2,400
30
Inventory
80
Assume a sale of 500 units occurred on June 15 for a selling price of $7 and a sale of 420 units on June 27 for $8.
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.)
FIFO
LIFO
Moving-Average Cost
The cost ending inventory
$Enter a dollar amount
$Enter a dollar amount
$Enter a dollar amount
The cost of goods sold
$Enter a dollar amount
$Enter a dollar amount
$Enter a dollar amount
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