WleyPLUS LUS Kimmel, Accounting, e CALCULATOR Cuiver Corporation reports the fol

Question

WleyPLUS LUS Kimmel, Accounting, e CALCULATOR Cuiver Corporation reports the following for the menth of une Date Explanation une 1Inventony 12 Puchases 23 Purchases 30 Inventory Units Unit Cost Total Cost s5 $585 2,424 477 Study 213 Calculate weighted-average unit cost. (Round answer to 3 decimal places e-g. s.125.) Compute the cost of the ending inventory and the cost of goods soid under FIFO, LIPO, and average-cost. (Round answers to o decimal average-cost. (Round answers to 0 decimal places, e.g. 125 Average-cost The cost of the ending inventory The cost of goods sold Show Work is REQUERED for this question: Open Show r MacBook Air

Explanation / Answer

Units Rate per unit Amount 01-Jun Beginning inventory 117 5 585 12-Jun Purchases 404 6 2424 23-Jun Purchases 211 7 1477 Cost of goods available for sale 732 6.128 4486 Less units sold 487 30-Jun Ending inventory 245 weighted average cost per unit 6.128 (4486/732) Ending inventory Average cost 1501 (245*6.128) FIFO Units Per unit Total 12 June purchases 34 6 204 23 june purchases 211 7 1477 Total 245 1681 LIFO 1 june purchases 117 5 585 12 june purchases 128 6 768 Total 245 1353 Average FIFO LIFO Cost of goods available for sale 4486 4486 4486 Less Ending inventory 1501 1681 1353 Cost of goods sold 2985 2805 3133

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