Question 5 of 8 View Policies Current Attempt in Progress Concord Ltd. uses the perpetual inventory system and reports the following inventory transactions for the month of Date June 1 Beginning inventory (a) 12 15 16 23 Explanation 27 Purchases Sale Purchases Purchases Sales Units 1,390 2,520 (2,550 ) 4,630 1,370 (5,890 ) Unit Cost/Price $6 FIFO 7 12 8 9 15 Total Cost $8,340 17,640 37,040 12,330 Determine the cost of goods sold and the cost of the ending inventory using (1) FIFO and (2) Average cost. (Do not rou intermediate calculations. Round cost of goods sold answers to 0 decimla places, e.g. 125 and average cost an decimal places, e.g. 1.25.) Average

Current Attempt in Progress Concord Ltd. uses the perpetual inventory system and reports the following inventory transactions for the month of (a) Determine the cost of goods sold and the cost of the ending inventory using (1) FIFO and (2) Average cost, (Do not ros intermediate calculations. Round cost of soods sold answers to 0 decimlo places, e.s. 125 and averoge cost on decimal places, e.g. 1.25)