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Eggers Company reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 120 $5 $600 June 12
Eggers Company reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 120 $5 $600 June 12 Purchase 370 6 2,220 June 23 Purchase 200 7 1,400 June 30 Inventory 230 Why does the FIFO inventory method give the higher ending inventory? Type your answer here Why does the LIFO inventory method result in a higher cost of goods sold? Type your answer here Why is the average unit cost not $6 [($5 + $6 + $7) 3 =$6]
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