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Eggers Company reports the following for the month of June.

Eggers Company reports the following for the month of June.Date Explanation Units Unit Cost Total CostJune 1 Inventory 120 $5 $ 60012 Purchases 370 6 2,220 23 Purchases 200 7 1,40030 Inventory 230 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.)
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Dana Herzog

Feb 20, 2025

June 1 Inventory 120 $5 $ 600 12 Purchases 370 6 2,22023 Purchases 200 7 1,400= 690 units available for sale = $4,220FIFOEnding Inventory(200 x $7) + (30 x $6) = $1,580COGS4,220 - 1,580 = $2,640LIFOEnding Inventory(120 x $5) + (110 x $6) = $1,260COGS4,220 - 1,260 = $2,960Average Cost4,220 / 690 = $6.12 avg. cost per unitEnding Inventory230 x 6.12 = $1,408COGS4,220 - 1,408 = $2,812... Show More
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