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Swifty Company reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 315 $7 $2,205 12 Purchase

Swifty Company reports the following for the month of June.

Date Explanation Units Unit Cost Total Cost

June

1

Inventory

315 $7 $2,205

12

Purchase

735 8 5,880

23

Purchase

1,050 9 9,450

30

Inventory

392

Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and 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.)

FIFO LIFO AVERAGE COST

Ending inventory

enter a dollar amount enter a dollar amount enter a dollar amount

Cost of goods sold

$enter a dollar amount $enter a dollar amount $enter a dollar amount

Susan Inc. uses the lower-of-cost-or-net-realizable-value (LCNRV) basis for its inventory. The following data are available at December 31

Units Cost/Unit NRV/Unit

Cameras

Minolta

5 $171 $156

Canon

8 142 157

Light Meters

Vivitar

12 124 120

Kodak

10 122 134

What amount should be reported on Susan's financial statements, assuming the lower-of-cost-or-net-realizable-value rule is applied?

Total $enter a dollar amount

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