View Policies Current Attempt In Progress Fly Buy Aircraft Sells A Wide Variety Of Model Aircrafts And Uses A Perpetual 1 (145.16 KiB) Viewed 68 times
View Policies Current Attempt in Progress Fly-Buy Aircraft sells a wide variety of model aircrafts and uses a perpetual inventory system. On June 1, Fly-Buy Aircraft had five Cessna 560 model airplanes on hand at a unit cost of $105.00. During June and July, the company had the following purchases and sales for this airplane (all for cash): Purchases Sales Units Unit Cost Units Unit Price June 4 2 $225.00 18 5 $120.00 30 6 250.00 July 5 5 125.00 12 3 270.00 25 2 N 270.00 Determine the cost of goods sold and ending inventory under a perpetual inventory system using (1) FIFO and (2) weighted average. (Round the weighted average cost per unit to two decimal places, e.g. 5.27 and final answers to 2 decimal places, e.g. 52.75.)
12 3 270.00 25 2 270.00 Determine the cost of goods sold and ending inventory under a perpetual inventory system using (1) FIFO and (2) weighted average. (Round the weighted average cost per unit to two decimal places, e.g. 5.27 and final answers to 2 decimal places, eg. 52.75.) FIFO Weighted average Cost of goods sold $ $ Ending inventory $ $ e Textbook and Media
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