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Moath Company reports the following for the month of June. Units Unit Cost Total Cost June 1 Inventory 344 $5 $ 1,720 12 Purchase 688
Moath Company reports the following for the month of June.
Units | Unit Cost | Total Cost | |||||||||
June 1 | Inventory | 344 | $5 | $ 1,720 | |||||||
12 | Purchase | 688 | 8 | 5,504 | |||||||
23 | Purchase | 516 | 11 | 5,676 | |||||||
30 | Inventory | 172 |
A- Calulate Weighted Average Unit Cost. (Round answer to 2 decimal places, e.g. 15.25.)
B- Compute the cost of the ending inventory and the cost of goods sold using the average-cost method. (Round answers to 0 decimal places, e.g. 1,250.)
C- Will the results in (a) be higher or lower than the results under FIFO and LIFO?
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