please answer do not image. Inventory data for Culver Corporation are presented as follows.DateJune 1122330(a1)ExplanationInventoryPurchasesAssume a sale of(a2)PurchasesInventoryUnits113The cost of the endinginventoryThe cost of goods sold379182e Textbook and Media210Unit Cost$567nits occu I on June 15 for a selling price of and a saleTotal Cost$5652,2741,274Calculate the cost of the ending inventory and the cost of goods sold for each cost flow assumption, using a perpetual inventorysystem. (Round per unit cost to 3 decimal places, e.g. 15.647 and final answers to O decimal places, e.g. 5,125. Round answers to Odecimal places, e.g. 125.)FIFOLAon JuneLIFO$9CAMoving-AverageAssistance Used

Under the FIFO method, the oldest products in inventory are sold first.Under the LIFO method, the…

Inventory data for Culver Corporation are presented as follows. Date Explanation Units Unit Cost June 1 Inventory 113 12 Purchases 379 23 Purchases 182 30 Inventory (a1) (a2) 210 The cost of the ending inventory The cost of goods sold $5 Assume a sale of 409 units occurred on June 15 for a selling price of $8 and a sale of 55 units on June 27 for $9. 6 $ 7 Calculate the cost of the ending inventory and the cost of goods sold for each cost flow assumption, using a perpetual inventory system. (Round per unit cost to 3 decimal places, e.g. 15.647 and final answers to O decimal places, e.g. 5,125. Round answers to 0 decimal places, e.g. 125.) Total Cost $565 2,274 1,274 FIFO SA LA LIFO 50 S Moving-Average

Inventory data for Culver Corporation are presented as follows. Date Explanation Units Unit Cost June 1 Inventory 113 12 Purchases 379 23 Purchases 182 30 Inventory (a1) (a2) 210 The cost of the ending inventory The cost of goods sold $5 Assume a sale of 409 units occurred on June 15 for a selling price of $8 and a sale of 55 units on June 27 for $9. 6 $ 7 Calculate the cost of the ending inventory and the cost of goods sold for each cost flow assumption, using a perpetual inventory system. (Round per unit cost to 3 decimal places, e.g. 15.647 and final answers to O decimal places, e.g. 5,125. Round answers to 0 decimal places, e.g. 125.) Total Cost $565 2,274 1,274 FIFO SA LA LIFO 50 S Moving-Average

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Question

please answer do not image.

Inventory data for Culver Corporation are presented as follows.
Date
June 1
12
23
30
(a1)
Explanation
Inventory
Purchases
Assume a sale of
(a2)
Purchases
Inventory
Units
113
The cost of the ending
inventory
The cost of goods sold
379
182
e Textbook and Media
210
Unit Cost
$5
6
7
nits occu I on June 15 for a selling price of and a sale
Total Cost
$565
2,274
1,274
Calculate the cost of the ending inventory and the cost of goods sold for each cost flow assumption, using a perpetual inventory
system. (Round per unit cost to 3 decimal places, e.g. 15.647 and final answers to O decimal places, e.g. 5,125. Round answers to O
decimal places, e.g. 125.)
FIFO
LA
on June
LIFO
$9
CA
Moving-Average
Assistance Used

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