Units Cost Beginning inventory 50 $10 Purchase (June 5) 10 16 Purchase (June 15) 30 14 Sale (June 20) 40 Sale (June 25) 20 Purchase (June 30) 10 20 26. Refer to Exhibit 7-4. Assuming RJ uses a perpetual moving average cost flow assumption, cost of goods sold for June would be a. $512 b. $560 c. $768 d. $720

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Units
Cost
Beginning
inventory
50
$10
Purchase
(June
5)
10
16
Purchase
(June
15)
30
14
Sale
(June
20)
40
Sale
(June
25)
20
Purchase
(June
30)
10
20
26.
Refer
to
Exhibit
7-4.
Assuming
RJ
uses
a
perpetual
moving
average
cost
flow
assumption,
cost
of
goods
sold
for
June
would
be
a.
$512
b.
$560
c.
$768
d.
$720
27.
Refer
to
Exhibit
7-4.
Assuming
RJ,
Inc.
uses
a
periodic
weighted
average
cost
flow
assumption,
ending
inventory
for
June
would
be
a.
$512
b.
$560
c.
$768
d.
$720
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