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E6.9 (LO 2), AP Moath Company reports the following for the month of June. June 1 12 Inventory Purchase Units 200 Unit Cost Total
E6.9 (LO 2), AP Moath Company reports the following for the month of June. June 1 12 Inventory Purchase Units 200 Unit Cost Total Cost $5 $1,000 400 6 2,400 23 Purchase 300 2,100 30 Inventory 100 Instructions a. Compute the cost of the ending inventory and the cost of goods sold using the average-cost method. (Round unit cost to three decimal places.) b. Will the results in (a) be higher or lower than the results under (1) FIFO and (2) LIFO? c. Why is the average unit cost not $6?
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