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Culver Corporation uses a perpetual inventory system reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory

Culver Corporation uses a perpetual inventory system reports the following for the month of June.

Date

Explanation

Units

Unit Cost

Total Cost

June 1

Inventory

140

$6

$840

12

Purchases

360

7

2,520

23

Purchases

230

8

1,840

30

Inventory

245

Calculate the average cost per unit, using a perpetual inventory system. Assume a sale of 430 units occurred on June 15 for a selling price of $9 and a sale of 55 units on June 27 for $10. (Round answers to 3 decimal places, e.g. 5.125.)

June 1

$

June 12

$

June 15

$

June 23

$

June 27

$

Calculate cost of the ending inventory and the cost of goods sold for each cost flow assumption, using a perpetual inventory system. Assume a sale of 430 units occurred on June 15 for a selling price of $9 and a sale of 55 units on June 27 for $10. (Round answers to 0 decimal places, e.g. 125.)

FIFO

LIFO

Moving-Average

The Cost of Ending Inventory

$. $. $.
The Cost of Goods Sold $. $ $

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