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A--VI Lincoln Company reports the following for the month of June. Units 300 June 1 Inventory 12 Purchase 450 23 Purchase 750 Unit Cost $5

A--VI Lincoln Company reports the following for the month of June. Units 300 June 1 Inventory 12 Purchase 450 23 Purchase 750 Unit Cost $5 Total Cost $1,500 6 2,700 6,000 30 Inventory 180 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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