Question

Bramble Ltd. uses the perpetual inventory system and reports the following inventory transactions for the month of June: Explanation 1 Beginning inventory 2 Purchases 5 Sale 5 Purchases 3 Purchases 7 Sales Units Unit Cost Total Cost 1,510 $6 $9,060.00 2,520 7 17,640 (2,540) 4,320 8 34,560 1,490 13,410 (5,710) Na (a) Determine the cost of goods sold and the cost of the ending inventory using (1) FIFO and (2) Average cost. (Round average final answers to 2 decimal places, e.g. 1.25. Do not round intermediate calculations.) FIFO Cost of goods sold Cost of ending inventory &

Answer 1

purchase Bulanan 106 1764 3506 23 IcSto 3 4560 32 111 13410 5710 45680 o cost of goods sold o closing Inventory - 62190 12480, FIFO sales Balances Purchases unit cost unit Total wit und cast Total Tolol 9060 2330 90Go 17640 2500 9060 7310 1090 10u30 1490 4320 10430 3456 4320 190 10430 34560 13410 800 7. losing 13lol 337 Go 1490 y cast of 12 cost of goods sold Inventory 60460 14210