Cullumber Company uses a periodic inventory system and reports the following for the month of June....

 

Transcribed Image Text:

Cullumber Company uses a periodic inventory system and reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 130 $5 $ 650 12 Purchases 388 6 2,328 23 Purchases 215 7 1,505 30 Inventory 230 X Your answer is incorrect. Calculate weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125.) Weighted-average unit cost 6.12 eTextbook and Media X Your answer is incorrect. Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost. (Round answers to 0 decimal places, e.g. 125.) FIFO LIFO Average-cost The cost of the ending inventory 2978 2$ 2846 $ The cost of goods sold 2$ 2846 2$ 2978 Cullumber Company uses a periodic inventory system and reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 130 $5 $ 650 12 Purchases 388 6 2,328 23 Purchases 215 7 1,505 30 Inventory 230 X Your answer is incorrect. Calculate weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125.) Weighted-average unit cost 6.12 eTextbook and Media X Your answer is incorrect. Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost. (Round answers to 0 decimal places, e.g. 125.) FIFO LIFO Average-cost The cost of the ending inventory 2978 2$ 2846 $ The cost of goods sold 2$ 2846 2$ 2978

Answer rating: 100% (QA)

Solution 1 Weighted average unit cost Cost of goods available for sales Units available for sales 65... View the full answer