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Suppose that Amazon uses a periodic inventory system and reports the following for the month of June: Unit Total Date Explanation Units Cost Cost
Suppose that Amazon uses a periodic inventory system and reports the following for the month of June: Unit Total Date Explanation Units Cost Cost June 11 Inventory 180 $4 $720 12 Purchase 420 5 2.100 23 Purchase 600 6 3,600 30 Inventory 224 (a) Your answer is partially correct 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, eg. 5.25 and final answers to O decimal places, eg. 2.520) Ending inventory Cost of goods sold FIFO 1344 2064 LIFO 720 4944 AVERAGE COST 431 451
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