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Presented below is information related to Blowfish radios for the Hootie Company for the month of July. Date Transaction Units In Unit Cost Total Units
Presented below is information related to Blowfish radios for the Hootie Company for the month of July.
| Date | Transaction | Units In | Unit Cost | Total | Units Sold | Selling Price | Total | |||||||
| July 1 | Balance | 180 | $3.07 | $ 553 | ||||||||||
| 6 | Purchase | 1,440 | 3.30 | 4,752 | ||||||||||
| 7 | Sale | 540 | $6.98 | $ 3,769 | ||||||||||
| 10 | Sale | 540 | 7.30 | 3,942 | ||||||||||
| 12 | Purchase | 720 | 4.08 | 2,938 | ||||||||||
| 15 | Sale | 360 | 7.60 | 2,736 | ||||||||||
| 18 | Purchase | 540 | 5.10 | 2,754 | ||||||||||
| 22 | Sale | 720 | 7.81 | 5,623 | ||||||||||
| 25 | Purchase | 900 | 5.24 | 4,716 | ||||||||||
| 30 | Sale | 360 | 8.02 | 2,887 | ||||||||||
| Totals | 3,780 | $15,713 | 2,520 | $18,957 |
Assuming that the periodic inventory method is used, compute the inventory cost at July 31 under each of the following cost flow assumptions. (Round answers to 0 decimal places, e.g. 6,578.) (1) FIFO. (2) LIFO. (3) Weighted-average.
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