Question
Sage Hill Inc. uses a periodic inventory system. Its records show the following for the month of May, in which 78 units were sold. Date
Sage Hill Inc. uses a periodic inventory system. Its records show the following for the month of May, in which 78 units were sold.
Date | Explanation | Units | Unit Cost | Total Cost | ||||
---|---|---|---|---|---|---|---|---|
May 1 | Inventory | 33 | $8 | $264 | ||||
15 | Purchase | 27 | 9 | 243 | ||||
24 | Purchase | 40 | 10 | 400 | ||||
Total | 100 | $907 |
Calculate the weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125.)
Weighted-average unit cost | $Enter the Weighted-average unit cost in dollars |
eTextbook and Media
Calculate the ending inventory at May 31 using the FIFO, LIFO and average-cost methods. (Round answers to 0 decimal places, e.g. 125.)
FIFO | LIFO | AVERAGE-COST | ||||
---|---|---|---|---|---|---|
The ending inventory at May 31 | $Enter a dollar amount | $Enter a dollar amount | $Enter a dollar amount |
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