Exercise 6-07 a-c Concord Company uses a periodic system reports the following for the month of June. Unit Cost June 1 12 23 30 Inventory Purchase Purchase Inventory Units 260 450 330 130 Total Cost $ 1,560 3,150 2,640 Compute the cost of the ending inventory and the cost of goods sold under FIFO and LIFO. FIFO LIFO Cost of the ending inventory Cost of goods sold LINK TO TEXT Which costing method gives the higher ending inventory? LINK TO TEXT Which method results in the higher cost of goods sold? Exercise 6-12 Bonita Frame Camera Shop uses the lower-of-cost-or-net realizable value basis for its inventory. Th Item Units Unit Cost Market Value $161 150 $156 152 Cameras: Minolta Canon Light meters: Vivitar Kodak 16 17 125 120 113 135 Determine the amount of the ending inventory by applying the lower-of-cost-or-net realizable value b The ending inventory s Click if you would like to Show Work for this question: Open Show Work lizable value basis for its inventory. The following data are available at December 31. me lower-of-cost-or-net realizable value basis. Problem 6-02A a, bl-b2, c (Part Level Submission) (Video) Bramble Distribution markets CDs of the performing artist Unique. At the beginning of October, Bramble had in beginning inven following purchases of Unique's CDs. Oct. 3 2,500 @ $6 Oct. 93,500 @ $7 Oct. 193,000 $8 Oct. 25 4,000 @ $9 During October, 10,800 units were sold. Bramble uses a periodic inventory system. Determine the cost of goods available for sale. Cost of goods available for sale Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT ctober, Bramble had in beginning inventory 2,000 of Unique's CDs with a unit cost of $5. During October, Bramble made the Your answer is correct. Determine the cost of goods available for sale. Cost of goods available for sale 109500 Click if you would like to Show Work for this question: Open Show Work SHOW SOLUTION SHOW ANSWER LINK TO TEXT (51) Calculate cost per unit. (Round answer to 2 decimal places, e.g. 2.25.) Cost per unit Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT Oct. 3 2,500 @ $6 Oct. 9 3,500 @ $7 Oct. 19 Oct. 25 3,000 @ $8 4,000 @ $9 During October, 10,800 units were sold. Bramble uses a periodic inventory system. (a) Your answer is correct. Determine the cost of goods available for sale. Cost of goods available for sale 109500 Click if you would like to Show Work for this question: Open Show Work SHOW SOLUTION SHOW ANSWER LINK TO TEXT (61) Calculate cost per unit. (Round answer to 2 decimal places, e.g. 2.25.) Cost per units Click if you would like