Question

Inventory data for Kaleta Company are presented in E6-6.
In E6-6, Kaleta Company reports the following for the month of June.


Instructions
(a) Compute the cost of the ending inventory and the cost of goods sold using the average-cost method.
(b) Will the results in (a) be higher or lower than the results under (1) FIFO and (2) LIFO?
(c) Why is the average unit cost not$6?


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  • CreatedJanuary 30, 2014
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