Question

Headlands Industries reports the following for the month of June.

Date		Explanation		Units		Unit Cost		Total Cost
June 1		Inventory		132		$5		$ 660
12		Purchases		392		6		2,352
23		Purchases		190		7		1,330
30		Inventory		235

Calculate weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125.)

Weighted-average unit cost

$enter a weighted-average unit cost in dollars

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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.)

		FIFO		LIFO		Average-cost
The cost of the ending inventory		$enter a dollar amount		$enter a dollar amount		$enter a dollar amount
The cost of goods sold		$enter a dollar amount		$enter a dollar amount		$enter a dollar amount

Answer 1