Exercise 6-16 Kaleta Company reports the following for the month of June. Date June 1...
60.1K
Verified Solution
Link Copied!
Question
Accounting
Exercise 6-16 Kaleta Company reports the following for the month of June. Date June 1 12 23 30 Explanation Inventory Purchase Purchase Inventory Units 322 644 483 161 Unit Cost $7 8 9 Total Cost $2,254 5,152 4 ,347 Assume a sale of 708 units occurred on June 15 for a selling price of $10 and a sale of 580 units on June 27 for $11. 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.) + 14 June 1 June 12 June 15 June 23 June 27 4 4 4 Calculate the 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 708 units occurred on June 15 for a selling price of $10 and a sale of 580 units on June 27 for $11. (Round answers to 0 decimal places, e.g. 1,250.) FIFO LIFO Moving-Average Cost The cost ending inventory s The cost of goods sold
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
