Will the results in (a) be higher or lower than the results under FIFO and LIFO?

Whispering Winds Corp. uses the periodic inventory system and reports the following for the month of June.

				Units			Unit Cost			Total Cost
June 1		Inventory		300			$4			$ 1,200
12		Purchase		600			9			5,400
23		Purchase		450			10			4,500
30		Inventory		150

Part 1

Calculate Weighted Average Unit Cost. (Round answer to 2 decimal places, e.g. 15.25.)

Weighted Average Unit Cost

$enter Weighted Average Unit Cost in dollars rounded to 2 decimal places

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Assistance Used

Part 2

Compute the cost of the ending inventory and the cost of goods sold using the average-cost method. (Round answers to 0 decimal places, e.g. 1,250.)

The ending inventory		$enter a dollar amount rounded to 0 decimal places
The cost of goods sold		$enter a dollar amount rounded to 0 decimal places

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Part 3

Will the results in (a) be higher or lower than the results under FIFO and LIFO?

Ending inventory is select an option higherlower higher lower than FIFO $enter a dollar amount and select an option higherlower higher lower than LIFO $enter a dollar amount .

In contrast, cost of goods sold is select an option higherlower higher lower than FIFO $enter a dollar amount and select an option higherlower higher lower than LIFO $enter a dollar amount