sold under FIFO, LIFO, and average-cost. (Round answers to o decimal places Average-cost
sold under FIFO, LIFO, and average-cost. (Round answers to o decimal places Average-cost
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Kimmel, Accounting, 7e
Assignment
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ent
Exercise 6-07 al-a2
Cullumber Company uses a periodic inventory system and reports the following for the month of June.
Date
Explanation
Inventory
Units
Unit Cost
Total Cost
June 1
130
$5
$ 650
12
Purchases
388
6.
2,328
23
Purchases
215
1,505
30
Inventory
230
Calculate weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125.)
Weighted-average unit cost
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. 225.
FIFO
LIFO
Average-cost
The cost of the ending inventory
The cost of goods sold
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Transcribed Image Text:en.wileyplus.com/edugen/student/mainfr.uni
YouTube Maps Welcome, Joseph-..
6 New Tab
Kimmel, Accounting, 7e
Assignment
Gradebook
ORION
Downloadable eTextbook
ent
Exercise 6-07 al-a2
Cullumber Company uses a periodic inventory system and reports the following for the month of June.
Date
Explanation
Inventory
Units
Unit Cost
Total Cost
June 1
130
$5
$ 650
12
Purchases
388
6.
2,328
23
Purchases
215
1,505
30
Inventory
230
Calculate weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125.)
Weighted-average unit cost
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. 225.
FIFO
LIFO
Average-cost
The cost of the ending inventory
The cost of goods sold
Click if you would like to Show Work for this question:
Open Shov Work
By accessing this Question Assistance, you wil learn while you earn points based on the Point Potential Policy set by your instructor
2.2000-2021 206n & Sona n Al Rghts Reserved. - Dysion of 2phn wileSer Jas
pe nere to search
hp
12
f6
10
fg
\44
IDI
%24
&
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