Question
Teal Mountain Inc. uses a perpetual inventory system reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1
Teal Mountain Inc. uses a perpetual inventory system reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 130 $4 $520 12 Purchases 390 5 1,950 23 Purchases 230 6 1,380 30 Inventory 250 (a) Your answer is partially correct. Calculate the average cost per unit, using a perpetual inventory system. Assume a sale of 450 units occurred on June 15 for a selling price of $7 and a sale of 50 units on June 27 for $8. (Round intermediate calculations to 0 decimal places, e.g. 5.250 and final answer to 3 decimal places, e.g. 5.125.) June 1$ June 12$ June 15quad$ June 23$.
Calculate the FIFO ending inventory and cost of goods sold
Calculate the LIFO ending inventory and cost of goods sold
Calculate the Average cost ending inventory and cost of goods sold
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