Question: Cullumber Enterprises uses a periodic inventory system for buckets it sells. It had a beginning inventory on April 1 of 84 units at a cost

Cullumber Enterprises uses a periodic inventory system for buckets it sells. It had a beginning inventory on April 1 of 84 units at a cost of $ 6 per unit. During April, the following purchases and sales were made.

Purchases

April 7

74 units at $ 7.00

13

148 units at $ 8.00

23

118 units at $ 9.00

29

55 units at $ 10.00
395

Sales

April 5

148 units at $ 20

11

118 units at $ 20

20

108 units at $ 20

30

54 units at $ 20
428

Compute the April 30 ending inventory and April cost of goods sold under (a) average cost, (b) FIFO, and (c) LIFO. (Round cost per unit to 2 decimal places, e.g. 15.25 and final answer to 0 decimal places, e.g. 1,525.)

(a)

Average-cost - Ending Inventory

$ enter a dollar amount

Cost of Goods Sold

$ enter a dollar amount

(b)

FIFO - Ending Inventory

$ enter a dollar amount

Cost of Goods Sold

$ enter a dollar amount

(c)

LIFO - Ending Inventory

$ enter a dollar amount

Cost of Goods Sold

$ enter a dollar amount

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