The following inventory transactions took place for Cullumber Corporation for the month of May: Date May 1 May 5 May 10 May 15 May 20 May 22 May 24 May 25 beginning inventory purchase purchase sale sale Event purchase purchase sale Quantity 4,000 3,000 3,000 4,000 4,000 1.500 4,500 4,000 Cost/ Selling Price $3.20 3.40 3.50 6.20 6.20 3.70 3.70 6.20 Calculate the ending inventory balance for Cullumber Corporation, assuming the company uses a perpetual inve moving-average cost formula. (Round unit costs to 2 decimal places, e.g. 52.75 and final answer to decimal places
The following inventory transactions took place for Cullumber Corporation for the month of May: Date May 1 May 5 May 10 May 15 May 20 May 22 May 24 May 25 beginning inventory purchase purchase sale sale Event purchase purchase sale Quantity 4,000 3,000 3,000 4,000 4,000 1.500 4,500 4,000 Cost/ Selling Price $3.20 3.40 3.50 6.20 6.20 3.70 3.70 6.20 Calculate the ending inventory balance for Cullumber Corporation, assuming the company uses a perpetual inve moving-average cost formula. (Round unit costs to 2 decimal places, e.g. 52.75 and final answer to decimal places
Financial And Managerial Accounting
15th Edition
ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:WARREN, Carl S.
Chapter6: Inventories
Section: Chapter Questions
Problem 2PB: LIFO perpetual inventory The beginning inventory for Dunne Co. and data on purchases and sales for a...
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