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Pina Colada Corp. uses a periodic inventory system and reports the following for the month of June. Date Explanation Units Unit Cost Total Cost
Pina Colada Corp. uses a periodic inventory system and reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 130 $5 $650 12 Purchase 390 6 2,340 23 23 Purchase 210 7 1,470 30 Inventory 213 (a) +A Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost. (Round per unit cost to 3 decimal places, e.g. 15.647 and final answers to O decimal places, e.g. 5,125.) FIFO LIFO Average-cost Cost of the ending inventory Cost of goods sold $ +A +A +A $
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Answer To calculate the cost of ending inventory and cost of goods sold under FIFO LIFO and averagecost methods we need to follow these steps 1 Calcul...Get Instant Access to Expert-Tailored Solutions
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