Question: Suppose that Amazon uses a periodic inventory system and reports the following for the month of June: Date June 1 (a) 12 23 30 Explanation
Suppose that Amazon uses a periodic inventory system and reports the following for the month of June: Date June 1 (a) 12 23 30 Explanation Units Inventory Purchase Purchase Inventory Ending inventory Cost of goods sold $ 315 LA 735 1,050 392 Unit Cost FIFO $6 7 8 Compute the cost of the ending inventory and the cost of goods sold under (1) FIFO, (2) LIFO, and (3) average-cost. (Round average cost per unit to 2 decimal places, e.g. 5.25 and final answers to O decimal places, e.g. 2,520.) Total Cost $ $1,890 $ 5,145 8,400 LIFO $ AVERAGE-COST
Suppose that Amazon uses a periodic inventory system and reports the following for the month of June: (a) Compute the cost of the ending inventory and the cost of goods sold under (1) FIFO, (2) LIFO, and (3) average-cost. (Round average cost per unit to 2 decimal places, es. 5.25 and final answers to 0 decimal places, es. 2.520.)
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