Bordeaux Company has the following information related to purchases and sales of

Question

Bordeaux Company has the following information related to purchases and sales of one of its inventory items:

Assume that Bordeaux uses a perpetual inventory system.

Required:

Calculate the cost of goods sold and the cost of ending inventory using the average cost method. (Note: Use four decimal places for per-unit calculations and round all other numbers to the nearest dollar.)

Bordeaux Company has the following information related to purchases and sales of one of its inventory items:

Date Description Units Purchased at Cost Units Sold at Retail June 1 Beginning Inventory 150 units @ $10 = $1,500 9 Purchase 1 200 units @ $12 = $2,400 14 Sale 1 300 units @ $25 22 Purchase 2 250 units @ $14 = $3,500 29 Sale 2 219 units @ $25

Assume that Bordeaux uses a perpetual inventory system.

Required:

Calculate the cost of goods sold and the cost of ending inventory using the average cost method. (Note: Use four decimal places for per-unit calculations and round all other numbers to the nearest dollar.)

Cost of goods sold $ Cost of ending inventory $

Explanation / Answer

Answer:

Particulars Average cost COGS 6305 Cost of ending inventory 1095

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