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(Solution) - Inventory data for Kuchin Company are presented in E6 7 Instruc

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Inventory data for Kuchin Company are presented in E6-7.
Instructions
(a) 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 410 units occurred on June 15 for a selling price of $8 and a sale of 340 units on June 27 for $9.
(b) How do the results differ from E6-7?
(c) Why is the average unit cost not $6 [($5 + $6 + $7) ÷ 3 = $6]?

 







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This question was answered on: Jul 11, 2017

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