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Accounting

Kiser Company reports the following for the month of June.

Date Explanation Units Unit Cost Total Cost
June 1 Inventory 125 $5 $625
June 12 Purchase 375 6 2,250
June 23 Purchase 500 7 3,500
June 30 Inventory 200

find out 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 430 units occurred on June 15 for a selling price of $8 and a sale of 370 units on June 27 for $9.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M972694

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