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FIFO LIFO Average-cost for cost of good sold Larkspur, Inc. uses a periodicinventory system and reports the following for the month of June. Date Explanation

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FIFO

LIFO

Average-cost

for cost of good sold

Larkspur, Inc. uses a periodicinventory system and reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 105 $5 $525 12 Purchases 375 2,250 23 Purchases 205 1,435 Inventory 240

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