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10 of 10 > - / 1 WN View Policies Current Attempt in Progress Blue...

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Accounting

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10 of 10 > - / 1 WN View Policies Current Attempt in Progress Blue Ltd. reports the following inventory transactions in a periodic inventory system for the month of June. A physical inventory count determined that 1,500 units were on hand at the end of the month. Date June 1 12 Explanation Beginning inventory Purchases Purchases Purchases Units 1,370 2,430 4,070 1,400 16 23 Determine the cost of the ending inventory and cost of goods sold using (1) FIFO and (2) average cost. (Round FIFO answers to the nearest whole dollar, e.g. 5,275 and Average cost answers to 2 decimal places, e.g. 15.25. Round unit cost to 6 decimal places. e.g. 15.243876.) + Quiz 3 - Chapter 6 Question 10 of 10 -/1 E FIFO Average CA Cost of the ending inventory Cost of goods sold $ e Textbook and Media Save for Later + Quiz 3 - Chapter 6 Question 10 of 10 -/1 Blue Ltd. reports the following inventory transactions in a periodic inventory system for the month of June. A physical inventory count determined that 1,500 units were on hand at the end of the month. Date June 1 12 16 Explanation Beginning inventory Purchases Purchases Purchases Units 1,370 2,430 4,070 1.400 Units Cost $6 7 Total Cost $8,220 17,010 32,560 12,600 8 23 9

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