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Suppose that Amazon uses a periodic inventory system and reports the following for the month of June: Unit Date Explanation Units Cost Total Cost
Suppose that Amazon uses a periodic inventory system and reports the following for the month of June: Unit Date Explanation Units Cost Total Cost June 1 Inventory 360 $3 $1,080 12 Purchase 840 4 3,360 23 Purchase 1,200 5 6,000 30 Inventory 448 Compute the cost of the ending inventory and the cost of goods sold under (1) FIFO, (2) LIFO, and (3) average-cost. (Round average cost per unit to 2 decimal places, e.g. 5.25 and final answers to 0 decimal places, e.g. 2,520.) Ending inventory Cost of goods sold FIFO LIFO AVERAGE-COST
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