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Flounder Corp. uses a periodic inventory system and reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June
Flounder Corp. uses a periodic inventory system and reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 118 $4 $472 12 Purchases 472 6 2.832 23 Purchases 295 8 2,360 30 Inventory 275 (a) Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost. (For calculation purposes, round average cost to 3 decimal places, eg. 5.275. Round answers to O decimal places, e.g. 125.) FIFO LIFO The cost of the ending inventory $ $ The cost of goods sold $ Average-Cost 1760 3904
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