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Ivanhoe Company uses a periodic inventory system and reports the following for the month of June. Total Cost $ 336 Date June 1 12 23
Ivanhoe Company uses a periodic inventory system and reports the following for the month of June. Total Cost $ 336 Date June 1 12 23 30 Explanation Inventory Purchases Purchases Inventory Units 84 336 210 190 Unit Cost $4 6 8 2,016 1,680 (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, e.g. 5.275. Round answers to 0 decimal places, e.g. 125.) FIFO LIFO Average-Cost $ $ $ 4 The cost of the ending inventory The cost of goods sold $ $
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