In its income statement for the year ended December 31, 2022, Concord Corporation reported the...
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In its income statement for the year ended December 31, 2022, Concord Corporation reported the following condensed data.
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Concord Corporation uses a periodic inventory system and reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 110 $5 $ 550 12 Purchase 350 6 2,100 23 Purchase 190 7 1,330 30 Inventory 193 (a) Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost. (Round per unit cost to 3 decimal places, e.g. 15.647 and final answers to O decimal places, e.g. 5,125.) FIFO LIFO Average-cost Cost of the ending inventory $ Cost of goods sold $ ta $ e Textbook and Media Assistance Used e Textbook Save for Later Attempts: 0 of 3 used Submit Answer Concord Corporation uses a periodic inventory system and reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 110 $5 $ 550 12 Purchase 350 6 2,100 23 Purchase 190 7 1,330 30 Inventory 193 (a) Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost. (Round per unit cost to 3 decimal places, e.g. 15.647 and final answers to O decimal places, e.g. 5,125.) FIFO LIFO Average-cost Cost of the ending inventory $ Cost of goods sold $ ta $ e Textbook and Media Assistance Used e Textbook Save for Later Attempts: 0 of 3 used Submit
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