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Marin Inc. uses a periodic inventory system and reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1
Marin Inc. uses a periodic inventory system and reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 108 $4 $ 432 12 Purchases 432 6 2,592 23 Purchases 270 8 2,160 30 Inventory 250 (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 The cost of the ending inventory $ $ $ $ The cost of goods sold $ $ ta $ $
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