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Flint Corporation uses a periodic inventory system. Its records show the following for the month of May, in which 79 units were sold. a.) Calculate
Flint Corporation uses a periodic inventory system. Its records show the following for the month of May, in which 79 units were sold.
a.) Calculate the weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125.)
b.) Calculate the ending inventory at May 31 using the FIFO, LIFO and average-cost methods. (Round answers to 0 decimal places, e.g. 125.)
Exercise 6-5 Flint Corporation uses a periodic inventory system. Its records show the following for the month of May, in which 79 units were sold Units Date Explanation Unit Cost Total Cost May 1 28 Inventory $9 $252 15 24 10 240 Purchase 42 24 Purchase 462 94 $954 Total Calculate the weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125.) Weighted-average unit cost LINK TO TEXT VIDEO: APPLIED SKILLS VIDEO: SIMILAR EXERCISE Calculate the ending inventory at May 31 using the FIFO, LIFO and average-cost methods. (Round answers to 0 decimal places, e.g. 125.) FIFO LIFO AVERAGE-COST The ending inventory at May 31 Click if you would like to Show Work for this question: Open Show WorkStep by Step Solution
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