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Buffalo Industries uses a periodic inventory system. Its records show the following for the month of May, in which 68 units were sold. Date May
Buffalo Industries uses a periodic inventory system. Its records show the following for the month of May, in which 68 units were sold. Date May 1 15 24 Explanation Inventory Purchase Purchase Total Units 30 23 38 91 Unit Cost $9 10 Total Cost $270 230 418 $918 Part 1 Your answer is incorrect. Calculate the weighted average unit cost. (Round answer to 3 decimal places, e.g. 5.125.) $ Weighted average unit cost $ Save for Later Attempts: 1 of 5 used Submit Answer Part 2 Calculate the ending inventory at May 31 using the FIFO, LIFO and average cost methods. (Round answers to decimal places, eg. 125.) FIFO LIFO AVERAGE-COST The ending inventory at May 31 $ Save for Later Attempts: 0 of 5 used Submit
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