Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Exercise 6-9 Blue Spruce Corp. uses the periodic inventory system and reports the following for the month of June. Units Unit Cost $6 June 1

image text in transcribedimage text in transcribed

Exercise 6-9 Blue Spruce Corp. uses the periodic inventory system and reports the following for the month of June. Units Unit Cost $6 June 1 410 820 Total Cost $ 2,460 7,380 7,380 12 Inventory Purchase Purchase Inventory 9 23 615 12 30 205 Your answer is correct. Calculate Weighted Average Unit Cost. (Round answer to 2 decimal places, e.g. 15.25.) Weighted Average Unit Cost 9.333 LINK TO TEXT Your answer is partially correct. Try again. 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 1913.265 The cost of goods sold 1912.65 Your answer is partially correct. Try again. Will the results in (a) be higher or lower than the results under FIFO and LIFO? X lower Ending inventory is higher than LIFO $ than FIFO $ and X X In contrast, cost of goods sold is higher lower than FIFO $ and than LIFO $ Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing Security And Controls Of Windows Active Directory Domains

Authors: Derek Melber

1st Edition

0894135635, 978-0894135637

More Books

Students also viewed these Accounting questions

Question

What is the value of using trained facilitators for meetings?

Answered: 1 week ago

Question

d. What language(s) did they speak?

Answered: 1 week ago