Question: Exercise 6-5 Horne Inc. uses a periodic inventory system. Its records show the following for the month of May, in which 74 units were sold.

Exercise 6-5

Horne Inc. uses a periodic inventory system. Its records show the following for the month of May, in which 74 units were sold. See image below. Exercise 6-5 Horne Inc. uses a periodic inventory system. Its records show Please find the following 4 parts:

1. Calculate the weighted-average unit cost. (Round answers to 3 decimal places, e.g. 5.125.)

2. Calculate the ending inventory at May 31 using the FIFO method.

3. Calculate the ending inventory at May 31 using the LIFO method.

4. Calculate the ending inventory at May 31 using the average-cost method. (Round answer to 0 decimal places, e.g. 125.)

Exercise 6-5 Horne Inc. uses a periodic inventory system. Its records show the following for the month of May, in which 74 units were sold ate anationn nits nit Cost Total Cost May 1 Inventory Purchase Purchase Total 30 25 38 93 $270 250 418 938 15 10

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