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Ivanhoe Company uses a periodic inventory system. Its records show the following for the month of May, in which 70 units were sold. Date Explanation
Ivanhoe Company uses a periodic inventory system. Its records show the following for the month of May, in which 70 units were sold. Date Explanation Units Unit Cost Total Cost May 1 Inventory 33 $10 $330 15 Purchase 27 11 297 24 Purchase 40 12 480 Total 100 $1,107 Calculate the weighted average unit cost. (Round answer to 3 decimal places, e.g. 5.125.) Weighted average unit cost $ e Textbook and Media Calculate the ending inventory at May 31 using the FIFO, LIFO and average-cost methods. (Round answers to O decimal places, e.g. 125.) FIFO LIFO AVERAGE-COST The ending inventory at May 31 $ $ $
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