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The accounting records of Crane Company show the following data. Beginning inventory 4,000 units at $5 Purchases 8,500 units at $7 Sales 9,000 units at
The accounting records of Crane Company show the following data.
Beginning inventory | 4,000 units at | $5 | |
Purchases | 8,500 units at | $7 | |
Sales | 9,000 units at | $10 |
Calculate average unit cost. (Round answer to 3 decimal places, e.g. 5.125.)
Determine cost of goods sold during the period under a periodic inventory system using the FIFO method, the LIFO method, and the average-cost method. (Round answers to 0 decimal places, e.g. 125.)
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