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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

FINANCIAL ACCOUNTING
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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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
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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