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Accounting! Pronghorn Corp uses a periodic inventory system. Its records show the following for the month of May, in which 78 units were sold. Date
Accounting!
Pronghorn Corp uses a periodic inventory system. Its records show the following for the month of May, in which 78 units were sold. Date Explanation Units Unit Cost Total Cost May 1 Inventory 35 $8 $280 15 Purchase 25 9 225 24 Purchase 40 10 400 Total 100 $905 (a) Calculate the weighted average unit cost. (Round answer to 3 decimal places, e.g. 5.125.) Weighted average unit cost $ (b). Calculate the ending inventory at May 31 using the FIFO, LIFO and average-cost methods. (Round answers to O decimal places, e.g. 125.) FIFO LIFO AVERAGE-COST The ending inventory at May 31 $ $ Save for Later Attempts: 0 of 1 used SubmitStep by Step Solution
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