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Current Attempt in Progress Sunland Company reports the following for the month of June. ...

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Question

Accounting

Current Attempt in Progress

Sunland Company reports the following for the month of June.

Date

Explanation

Units

Unit Cost

Total Cost
June 1 Inventory 150 $2 $300
12 Purchase 450 5 2,250
23 Purchase 400 6 2,400
30 Inventory 80

Assume a sale of 500 units occurred on June 15 for a selling price of $7 and a sale of 420 units on June 27 for $8.

Calculate the cost of the ending inventory and the cost of goods sold for each cost flow assumption, using a perpetual inventory system. (Round average-cost per unit to 3 decimal places, e.g. 12.520 and final answer to 0 decimal places, e.g. 1,250.)

FIFO

LIFO

Moving-Average Cost
The cost 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

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