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Culver Corporation uses a periodic inventory system and reports the following for the month of June. Date Explanation Units June 1 Inventory Unit Cost
Culver Corporation uses a periodic inventory system and reports the following for the month of June. Date Explanation Units June 1 Inventory Unit Cost Total Cost 116 $4 $464 12 Purchases 464 2,784 23 Purchases 290 8 2,320 30 Inventory 270 (a) Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost. (For calculation purposes, round average cost to 3 decimal places, eg. 5.275. Round answers to O decimal places, eg. 125) The cost of the ending inventory The cost of goods sold FIFO 3364 $ 5104 S LIFO Average-Cost 2320 $
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