a company sells 100 units in june. calculate the cost of goods sold using last - in, first - out. units…

a company sells 100 units in june. calculate the cost of goods sold using last - in, first - out. units received unit cost june 4 30 $2.50 june 11 60 $2.00 june 18 20 $2.60 june 25 50 $2.10 $? per unit round to the nearest cent.

a company sells 100 units in june. calculate the cost of goods sold using last - in, first - out. units received unit cost june 4 30 $2.50 june 11 60 $2.00 june 18 20 $2.60 june 25 50 $2.10 $? per unit round to the nearest cent.

Answer

Explanation:

Step1: Allocate units from latest - received

First, use the 50 units from June 25 at $2.10 per unit. Then, since we need 100 units in total and we've used 50 so far, we need 50 more units. We take 20 units from June 18 at $2.60 per unit and 30 units from June 11 at $2.00 per unit.

Step2: Calculate cost of goods sold

Cost of goods sold = (50×2.10)+(20×2.60)+(30×2.00) = 105 + 52+60 = 217

Answer:

$217.00