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(Need Average-Cost and to Verify work, Thanks!) Sunland Company uses a periodic inventory system. Its records show the following for the month of May, in
(Need Average-Cost and to Verify work, Thanks!)
Sunland Company uses a periodic inventory system. Its records show the following for the month of May, in which 104 units were sold. Units Unit Cost Total Cost May 1 Inventory 48 $ 14 $672 15 Purchases 40 17 680 24 Purchases 56 18 1,008 Totals 144 $ 2,360 Compute the ending inventory at May 31 and cost of goods sold using the FIFO, LIFO, and average-cost methods. (Round per unit cost to 3 decimal places, e.g. 15.647 and final answers to decimal places, e.g. 5,125.) FIFO LIFO Average-cost Ending inventory at May 31 $ $ 720 $ $ 560 $ Cost of goods sold $ 1,640 $ 1,800 $ e Textbook and Media Save for Later Last saved 16 minutes ago. Attempts: 0 of 3 used SubmitStep by Step Solution
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