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2. Tipp Topp Company reports the following for the month of June. Unit Cost June 1 Inventory 12 Purchase 23 Purchase 30 Inventory Units 300

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2. Tipp Topp Company reports the following for the month of June. Unit Cost June 1 Inventory 12 Purchase 23 Purchase 30 Inventory Units 300 450 750 180 Total Cost $1,500 2,700 5,700 7.60 Instructions: (a) Compute the cost of the ending inventory and the cost of goods sold under (1) FIFO and (2) LIFO. (b) Compute the cost of the ending inventory and the cost of goods sold using the average-cost method

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