edugen.wileyplus.com WileyPLUS ACC 201/202: Financial and Hanegerial Accounting
ID: 2414331 • Letter: E
Question
edugen.wileyplus.com WileyPLUS ACC 201/202: Financial and Hanegerial Accounting ( ) andt, Financial & Hanagerial Accounting, 2e STANDARD VIEW PR?NTER VERSION BACK Kaleta Company reports the following for the month of June Unit $6 12 Purchase 540 7 une 1 oventory 270 $1,620 23 Purchase 40583,240 30 Inventory135 | Assume a sale of ?84 units oorred on Are Sfor a seling price of Sg and sale of 486 units on.ne 27 for $10. Calculate cost of goods available for sale The cost of goods available for sale akulate Mong-Aveage unit cout for une 1, 12, 15, 23 & 27. (Aound answers to 3 decinal places, e.g. 2.52 une 12s une 15 s une 23 s une 27 s h ut no-assumpton, u ing·perpetual inventory systen. (Round rage Cak Ate the eostofthe e ang inventory and the cost of goods so d for The cost ending invertory The cost of goods sold by accessing this Question Assistance, you will learn whle you ean points based on the Point Potential Policy set by your instructor Question Attempts: O of 2 used SAVE FOR LATER Cnn.rmu?Explanation / Answer
Answer 1. Cost of Goods Available for Sale Date Explanation Units Unit Cost Total Cost Jun-1 Op. Inventory 270.0 6.00 1,620.00 Jun-12 Purchases 540.0 7.00 3,780.00 Jun-23 Purchases 405.0 8.00 3,240.00 Total 1,215 8,640.00 Answer 2. Perpetual Inventory Method FIFO Date Purchases Cost of Goods Sold Balance Unit Cost Total Unit Cost Total Unit Cost Total 1-Jun 270 6.000 1,620.00 12-Jun 540 7.000 3,780.00 270 6.000 1,620.00 540 7.000 3,780.00 810 5,400.00 15-Jun 270 6.000 1,620.00 216 7.000 1,512.00 324 7.000 2,268.00 594 3,888.00 23-Jun 405 8.000 3,240.00 216 7.000 1,512.00 405 8.000 3,240.00 621 4,752.00 27-Jun 216 7.000 1,512.00 135 8.000 1,080.00 270 8.000 2,160.00 486 3,672.00 Total 945 7,020.00 1,080 7,560.00 LIFO Date Purchases Cost of Goods Sold Balance Unit Cost Total Unit Cost Total Unit Cost Total 1-Jun 270 6.000 1,620.00 12-Jun 540 7.000 3,780.00 270 6.000 1,620.00 540 7.000 3,780.00 810 5,400.00 15-Jun 540 7.000 3,780.00 216 6.000 1,296.00 54 6.000 324.00 594 4,104.00 23-Jun 405 8.000 3,240.00 216 6.000 1,296.00 405 8.000 3,240.00 621 4,536.00 27-Jun 405 8.000 3,240.00 135 6.000 810.00 81 6.000 486.00 486 3,726.00 Total 945 7,020.00 1,080 7,830.00 Moving Average Date Purchases Cost of Goods Sold Balance Unit Cost Total Unit Cost Total Unit Cost Total 1-Jun 270 6.000 1,620 12-Jun 540 7.000 3,780 270 6.000 1,620 540 7.000 3,780 810 6.667 5,400 15-Jun 594.00 6.667 3,960 216 6.667 1,440 23-Jun 405 8.000 3,240 216 6.667 1,440 405 8.000 3,240 621 7.536 4,680 27-Jun 486.00 7.536 3,663 135 7.536 1,017 Total 945 7,020 1,080 7,623
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.