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Roasters Delight Pty Ltd, a coffee bean wholesaler, reports the following for the month of August. Date Jun-01 12 23 30 Explanation Opening balance Purchases
Roasters Delight Pty Ltd, a coffee bean wholesaler, reports the following for the month of August. Date Jun-01 12 23 30 Explanation Opening balance Purchases Purchases Closing balance Units 65 125 140 120 Unit cost $65 66 67 Total cost $4,225 $8,250 59,380 Required 6 Marks) Assuming the company uses the periodic inventory system, calculate: the cost of the ending inventory at 31 August, and the cost of sales for the month of August under FIFO, LIFO and average cost. (Round average cost per unit calculations to 2 decimal places, e.g., 12.36 and final answers to O decimal places, e.g., 2,347.)
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