BlossomWarehouse distributes hardback books to retail stores and extends credit terms of4/10, n/30 to all of its customers. During the month of June, the following merchandising transactions occurred.

June 1Purchased books on account for $2,355(including freight) from Catlin Publishers, terms4/10, n/30.3Sold books on account to Garfunkel Bookstore for $1,200. The cost of the merchandise sold was $700.6Received $55credit for books returned to Catlin Publishers.9Paid Catlin Publishers in full.15Received payment in full from Garfunkel Bookstore.17Sold books on account to Bell Tower for $1,400, terms of4/10, n/30. The cost of the merchandise sold was $900.20Purchased books on account for $900from Priceless Book Publishers, terms2/15, n/30.24Received payment in full, less discount from Bell Tower.26Paid Priceless Book Publishers in full.28Sold books on account to General Bookstore for $2,100. The cost of the merchandise sold was $950.30Granted General Bookstore $120credit for books returned costing $90.

Journalize the transactions for the month of June forBlossomWarehouse, using a perpetual inventory system.(If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)

Buffalo Industriesuses a periodic inventory system. Its records show the following for the month of May, in which68units were sold.

Date

Explanation

Units

Unit Cost

Total Cost

May 1Inventory35

$9

$315

15Purchase25

10

250

24Purchase40

11

440

Total100

$1,005

(a)

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Calculate the weighted-average unit cost.(Round answer to 3 decimal places, e.g. 5.125.)

Weighted-average unit cost$

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Calculate the ending inventory at May 31 using the FIFO, LIFO and average-cost methods.(Round answers to 0 decimal places, e.g. 125.)

FIFO

LIFO

AVERAGE-COST

The ending inventory at May 31$

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$

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$

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