Sunland Company uses a periodic inventory system and reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 130 $5 $650 12 Purchase 370 6 2,220 23 Purchase 200 7 1,400 30 Inventory 240 (a1) Your answer is correct. Calculate weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125.) Weighted-average unit cost 6.100 eTextbook and Media (a2) Attempts: 2 of 3 used 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 fA $ FIFO $ $ 69 LIFO $ $ Average-cost
Sunland Company uses a periodic inventory system and reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 130 $5 $650 12 Purchase 370 6 2,220 23 Purchase 200 7 1,400 30 Inventory 240 (a1) Your answer is correct. Calculate weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125.) Weighted-average unit cost 6.100 eTextbook and Media (a2) Attempts: 2 of 3 used 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 fA $ FIFO $ $ 69 LIFO $ $ Average-cost
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:Sunland Company uses a periodic inventory system and reports the following for the month of June.
Date
Explanation Units
Unit Cost
Total Cost
June 1
Inventory
130
$5
$650
12
Purchase
370
6
2,220
23
Purchase
200
7
1,400
30
Inventory
240
(a1)
Your answer is correct.
Calculate weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125.)
Weighted-average unit cost
6.100
eTextbook and Media
(a2)
Attempts: 2 of 3 used
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
fA
$
FIFO
$
$
69
LIFO
$
$
Average-cost
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