Kaleta Company reports the following for the month of June e Explanation Units U

Question

Kaleta Company reports the following for the month of June e Explanation Units Unit Cost Total une 1 Inventory 242 484 363 121 $7 12 Purchase 23 Purchase 30 Inventory $1,694 3,872 3,267 Assume a sale of 532 units occurred on June 15 for a selling price of $10 and a sale of 436 units on June 27 for $11. Calculate cost of goods available for sale. The cost of goods available for sale Calculate Moving-Average unit cost for June 1, 12, 15, 23 & 27. (Round answers to 3 decimal places, e.g. 2.5s25.) June 1 June 12 June 15 June 23 June 27

Explanation / Answer

1) cost of goods available for sale = ($1694+$3872+$3267)= $8833 2) Computation of Moving Average Cost Date Moving Average Cost/Unit Calculation Jun-01 $7.00 Jun-12 $7.67 ($1694+3872)/(242+484) Jun-15 $7.67 Jun-23 $8.53 ($5566-4080.44+3267)/(242+484-532+363) Jun-27 $8.53

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