Date June 1 12 23 Explanation Inventory Purchases Purchases 30 Inventory Units 130 370 200 240 Unit Cost Weighted-average unit cost $ $5 6 7 Total Cost $650 2,220 1,400 Calculate weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125.)

Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter17: Financial Statement Analysis
Section: Chapter Questions
Problem 5PEA
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Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost. (Round answers to O
decimal places, e.g. 125.)
The cost of the ending
inventory
The cost of goods sold
$
$
FIFO
$
tA
$
LIFO
$
$
Average-cost
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 O decimal places, e.g. 125.) The cost of the ending inventory The cost of goods sold $ $ FIFO $ tA $ LIFO $ $ Average-cost
4
Cheyenne Corp. uses a periodic inventory system and reports the following for the month of June.
Date
June 1
12
23
30
Explanation Units Unit Cost
Inventory
Purchases
Purchases.
Inventory
130
370
200
240
$5
Weighted-average unit cost $
6
7
Total Cost
$650
2,220
1,400
Calculate weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125.)
Transcribed Image Text:4 Cheyenne Corp. uses a periodic inventory system and reports the following for the month of June. Date June 1 12 23 30 Explanation Units Unit Cost Inventory Purchases Purchases. Inventory 130 370 200 240 $5 Weighted-average unit cost $ 6 7 Total Cost $650 2,220 1,400 Calculate weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125.)
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