Bramble Company reports the following for the month of June. June 1 12 (a) 23 (b) 30 Units Inventory 290 Purchase 400 Purchase 300 Inventory 130 Cost of the ending inventory Cost of goods sold Unit Cost $5 6 S Save for Later 7 Your answer has been saved. See score details after the due date. Compute the cost of the ending inventory and the cost of goods sold under FIFO and LIFO. Total Cost $1,450 2.400 2,100 FIFO 910 5040 Which costing method gives the higher ending inventory? S 50 LIFO 650 5300 Attempts: 1 of 1 used Attempts: 0 of 1 used Submit Answer

Cullumber Company sells one product. Presented below is information for January for Cullumber Company. Nov. 1   Inventory   300 units at $ 12 each 5   Purchase   180 units at $ 13 each 10   Sale   410 units at $ 19 each 15   Purchase   410 units at $ 12.50 each 21   Sale   430 units at $ 20 each 30   Purchase   400 units at $ 12.80 each Cullumber uses the FIFO cost flow assumption. All purchases and sales are on account.

10. Mama's Mexican Meals, Inc., had the following activity for an inventory item during June: Unit Units Cost Beginning inventory Purchase (June 5). Purchase (June 15) Sale (June 20). Sale (June 25). Purchase (June 30) 50 $10 10 16 30 14 40 20 10 20 Assuming Mama's uses a periodic weighted average cost flow assumption, cost of goods sold for June would be a. $512 b. $560 c. $768 d. $720

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 eTextbook and Media