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Please show your work as to how you got the answer for LIFO. Thank you. Exercise 6-14 Monty Corp. reports the following for the month
Please show your work as to how you got the answer for LIFO. Thank you.
Exercise 6-14 Monty Corp. reports the following for the month of June. DateExplanation Units Unit Cost June 1 Total Cost 12 23 30 Inventory Purchases Purchases Inventory 352 187 195 $555 2,112 1,309 7 A sale of 403 units occurred on June 15 for a selling price of $8 and a sale of 52 units on June 27 for 9 Your answer is correct Calculate the average cost per unit, using a perpetual inventory system. (Round answers to 3 decimal places, e.g. 5.125.) June 1 5 June 12 5.76 June 15 5.76 June 23 6.7 June 27 6.7 Your answer is partially correct. Try again. Calculate cost of the ending inventory and the cost of goods sold for each cost flow assumption, using a perpetual inventory system. Assume a sale of 403 units occurred on June 15 for a selling price of $8 and a sale of 52 units on June 27 for $9. (Round answers to O decimal places, e.g. 125.) FIFO LIFO Moving-Average The cost of the ending inventory 1357 1306.5 The cost of goods sold 2619 2669.5Step by Step Solution
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