Exercise 6-7

Cullumber Company reports the following for the month of June. Calculate the weighted-average unit cost, Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost.

Weighted-Average unit cost: (Round answer to 3 decimal places, e.g. 5.125.)

The cost of the ending inventory FIFO, LIFO, Average Cost(Round answers to 0 decimal places, e.g. 125.)

The cost of goods sold FIFO, LIFO, Average Cost(Round answers to 0 decimal places, e.g. 125.)

Here is the chart to answer question:

Date		Explanation		Units		Unit Cost		Total Cost
June 1		Inventory		130		$5		$ 650
12		Purchases		388		6		2,328
23		Purchases		215		7		1,505
30		Inventory		230