Question
Blossom Company uses a periodic inventory system and reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June
Blossom Company uses a periodic inventory system and reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 120 $5 $600 12 Purchase 350 6 2,100 23 Purchase 240 7 1,680 30 Inventory 250 Calculate weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125.) Weighted-average unit cost $ 6.169 eTextbook and Media Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost. (Round answers to O decimal places, e.g. 125.) Cost of the ending inventory $ Cost of goods sold FIFO $ $ LIFO $ $ Average-cost
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Financial Accounting Tools for Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
9th edition
1-119-49356-3, 1119493633, 1119493560, 978-1119493631
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