Blossom Company uses a periodic inventory system and reports the following for the month of June. Date June 1 12 23 30 Explanation Units Inventory Purchase Purchase Inventory 120 350 240 250 Unit Cost $5 6 7 Total Cost $ 600 2,100 1,680
Blossom Company uses a periodic inventory system and reports the following for the month of June. Date June 1 12 23 30 Explanation Units Inventory Purchase Purchase Inventory 120 350 240 250 Unit Cost $5 6 7 Total Cost $ 600 2,100 1,680
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text: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.)
Cost of the ending inventory
Cost of goods sold
eTextbook and Media
$
FIFO
$
LIFO
$
$
Average-cost

Transcribed Image Text:Blossom Company uses a periodic inventory system and reports the following for the month of June.
Date
June 1
12
Explanation Units Unit Cost
Inventory
$5
Purchase
23 Purchase
30 Inventory
120
350
240
250
6
7
Total Cost
$ 600
2,100
1,680
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