b)

Best Buy uses the lower-of-cost-or-net realizable value basis for its inventory. The following data are available at December 31. What amount should be reported on Best Buy's financial statements, assuming the lower-of-cost-or-net realizable value rule is applied? Total \$ Blossom Company uses a periodic inventory system and reports the following for the month of June. (a1) Your answer is correct. Calculate weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125.) Weighted-average unit cost \$ eTextbook and Media Attempts: 1 of 2 use (a2) Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost. (Round answers to 0 decimal places, e.g. 125.)