Plato Company Reports the Following for the Month of June

question 68

Essay

Plato Company reports the following for the month of June. Instructions
(a) Calculate the cost of the ending inventory and the cost of goods sold for each cost flow assumption, using a perpetual inventory system. Assume a sale of 570 units occurred on June 15 for a selling price of $8 and a sale of 600 units on June 27 for $9. (Note: For the average-cost method, round unit cost to three decimal places.)
(b) Why is the average unit cost not $6 [($5 + $6 + $7) / 3 = $6]?

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Definitions:

Motivational Discrepancy

The gap between an individual's current state and where they want to be, which can motivate change.

Desired Goals

Targets or outcomes that an individual or group aims to achieve through concerted efforts, often used in personal development and therapy settings.

Motivational Interviewing

A counseling approach that helps people find the motivation to make positive decisions and accomplish established goals through guided conversation.

Positive Regard

The act of accepting and supporting a person without judgement, often used in therapeutic relationships to create a safe environment for growth.