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Headlands Industries uses a periodic inventory system and reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1
Headlands Industries uses a periodic inventory system and reports the following for the month of June.
Date | Explanation | Units | Unit Cost | Total Cost | ||||
---|---|---|---|---|---|---|---|---|
June 1 | Inventory | 120 | $5 | $ 600 | ||||
12 | Purchases | 390 | 6 | 2,340 | ||||
23 | Purchases | 190 | 7 | 1,330 | ||||
30 | Inventory | 235 |
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.)
22 Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO and average-cost. (Round answers to Odecimal places, eg. 125) FIFO LIFO Average-cost $ The cost of the ending inventory The cost of goods sold $ 5 $ e Textbook and Media Sata Attempts: unlimited Submit Answer NG IMG_35619 Type to search IMG_3560 P9 * Show allStep by Step Solution
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