Question
Headlands Industries reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 132 $5 $ 660 12
Headlands Industries reports the following for the month of June.
Date Explanation Units Unit Cost Total Cost June 1 Inventory 132 $5 $ 660 12 Purchases 392 6 2,352 23 Purchases 190 7 1,330 30 Inventory 235
Calculate weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125.)
Weighted-average unit cost $
Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost. (Round answers to 0 decimal places, e.g. 125.)
FIFO LIFO Average-cost The cost of the ending inventory $ $ $ The cost of goods sold $ $ $
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