Brief Exercise 6-04 al-a2 In its first month of operations, Bethke Company made three purchases of merchandise in the following sequence: (1) 300 units at $6, (2) 400 units at $7, and (3) 200 units at $8. Calculate the average unit cost. (Round answer to 2 decimal places, e.g. 15.25.) Average unit costs LINK TO TEXT Compute the cost of the ending inventory under the average-cost method, assuming there are 360 units on hand. (Round answer to 0 decimal places, e.g. 1,250.) The cost of the ending inventory In its first month of operation, Hoffman Company purchased 100 units of inventory for $6, then 200 units for $7, and finally 140 units for $8. At the end of the month, 180 units remained. The company uses the periodic method. Compute the amount of phantom profit that would result if the company used FIFO rather than LIFO. Phantom profit Pettit Company reports net income of $90,000 in 2020. However, ending inventory was understated $7,000. What is the correct net income for 2020? Correct net income for 2020 In its first month of operation, Hoffman Company purchased 100 units of inventory for $6, then 200 units for $7, and finally 140 units for $8. At the end of the month, 180 units remained. The company uses the periodic method. Compute the amount of phantom profit that would result if the company used FIFO rather than LIFO. Phantom profit