Question
Sheridan Company uses a periodic inventory system and reports the following for the month of June. Unit Total Date Explanation Units Cost Cost June
Sheridan Company uses a periodic inventory system and reports the following for the month of June. Unit Total Date Explanation Units Cost Cost June 1 Inventory 130 $5 $ 650 12 Purchase 360 6 2,160 23 Purchase 220 1,540 30 Inventory 223 (a) Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost. (Round per unit cost to 3 decimal places, e.g. 15.647 and final answers to 0 decimal places, e.g. 5,125.) FIFO LIFO Average-cost Cost of the ending 2$ 2$ 2$ inventory Cost of goods sold $ 2$ $
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Accounting Principles
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
7th Canadian Edition Volume 1
1119048508, 978-1119048503
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