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Flint Corporation uses a perpetual inventory system. Data for product E2-D2 include the purchases shown below....

Flint Corporation uses a perpetual inventory system. Data for product E2-D2 include the purchases shown below.

Date

Number of Units

Unit Price
May 7 52 $17
July 28 37 22


On June 1, Flint Corporation sold 26 units, and on August 27, 37 more units.

1) Calculate the average cost for June 1 sale and August 27 sale. (Round answers to 3 decimal places, e.g. 5.125.)

2) Compute the cost of goods sold using FIFO, LIFO, and average-cost. (Round answers to 0 decimal places, e.g. 125.)

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Expert Solution

ekkarill92 answered 2 years ago
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