Eggers Company reports the following for the month of June. Date Explanation Uni

Question

Eggers Company reports the following for the month of June.

Date Explanation Units Unit Cost Total Cost June 1 Inventory 204 $8 $ 1,632 12 Purchases 628 10 6,280 23 Purchases 339 12 4,068 30 Inventory 390 Eggers Company reports the following for the month of June.

Date Explanation Units Unit Cost Total Cost June 1 Inventory 204 $8 $ 1,632 12 Purchases 628 10 6,280 23 Purchases 339 12 4,068 30 Inventory 390 Date Explanation Units Unit Cost Total Cost FIFO LIFO Average-cost Exercise 6-7 Eggers Company reports the following for the month of June.

Date Explanation Units Unit Cost Total Cost June 1 Inventory 204 $8 $ 1,632 12 Purchases 628 10 6,280 23 Purchases 339 12 4,068 30 Inventory 390

Explanation / Answer

WEIGHTED AVERAGE UNIT COST = (1632+6280+4068)/(204+628+339)

= 11980/1171

= 10.23 P.U.

FIFO

COST OF ENDING INVENTORY

339 UNITS - PURCHASES MADE ON 23RD JUNE @ 12 P.U. [339*12] = $4068

BALANCE 51 UNITS(390-339) PURCHASES MADE ON 12TH JUNE @ 10 P.U. [51*10] = $510

COST OF ENDING INVENTORY = $4578

COST OF GOODS SOLD = TOTAL COST

Related Questions

Navigate

• Browse (All)
• Browse E
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.