Exercise 6-9 Monty Corp. uses the periodic inventory system and reports the following for the month of June. Units Unit Cost Total Cost June 1 Inventory 310 $6 $ 1,860 12 Purchase 620 7 4,340 23 Purchase 465 11 5,115 30 Inventory 155

Compute the cost of the ending inventory and the cost of goods sold using the average-cost method.

Will the results in (a) be higher or lower than the results under FIFO and LIFO?

(Poster request: Please show steps)