Exercise 6-09 a1,a2, b

Moath Company reports the following for the month of June.

				Units			Unit Cost			Total Cost
June 1		Inventory		200			$5			$ 1,000
12		Purchase		400			6			2,400
23		Purchase		300			7			2,100
30		Inventory		100

Calulate Weighted Average Unit Cost. (Round answer to 2 decimal places, e.g. 15.25.)

Weighted Average Unit Cost

$

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Compute the cost of the ending inventory and the cost of goods sold using the average-cost method. (Round answers to 0 decimal places, e.g. 1,250.)

The ending inventory		$
The cost of goods sold		$

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Will the results in (a) be higher or lower than the results under FIFO and LIFO? Ending inventory is higherlower than FIFO $ and higherlower than LIFO $ . In contrast, cost of goods sold is higherlower than FIFO $ and higherlower than LIFO $ .