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Ayayai Corp. uses a periodic inventory system and reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1

Ayayai Corp. uses a periodic inventory system and reports the following for the month of June.

Date

Explanation

Units

Unit Cost

Total Cost

June 1

Inventory

126 $4 $ 504

12

Purchases

504 6 3,024

23

Purchases

315 8 2,520

30

Inventory

295

(a) Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost. (For calculation purposes, round average cost to 3 decimal places, e.g. 5.275. Round answers to 0 decimal places, e.g. 125.)

FIFO

LIFO

Average-Cost

The cost of the ending inventory

$enter cost of the ending inventory under First In First Out in dollars $enter cost of the ending inventory under Last In First Out in dollars $enter cost of the ending inventory under average-cost in dollars

The cost of goods sold

$enter cost of goods sold under First In First Out in dollars $enter cost of goods sold under Last In First Out in dollars $enter cost of goods sold under average-cost in dollars

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