en.wileyplus.com/edugen/student/mainfr.uniYouTube Maps Welcome, Joseph-..6 New TabKimmel, Accounting, 7eAssignmentGradebookORIONDownloadable eTextbookentExercise 6-07 al-a2Cullumber Company uses a periodic inventory system and reports the following for the month of June.DateExplanationInventoryUnitsUnit CostTotal CostJune 1130$5$ 65012Purchases3886.2,32823Purchases2151,50530Inventory230Calculate weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125.)Weighted-average unit costCompute 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.FIFOLIFOAverage-costThe cost of the ending inventoryThe cost of goods soldClick if you would like to Show Work for this question:Open Shov WorkBy accessing this Question Assistance, you wil learn while you earn points based on the Point Potential Policy set by your instructor2.2000-2021 206n & Sona n Al Rghts Reserved. - Dysion of 2phn wileSer Jaspe nere to searchhp12f610fg\44IDI%24&

DATE UNITS UNIT COST TOTAL COST JUNE 1 OPENING INVENTORY 130 5 650 12 PURCHASES 388 6 2328…

Answered: sold under FIFO, LIFO, and…

Business

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sold under FIFO, LIFO, and average-cost. (Round answers to o decimal places Average-cost

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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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
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pe nere to search
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