lowing for the month of June  DATE        EXPLAINATION     UNITS    UNIT COST     TOTAL COST June 1       Inventory                  120                $5                  $600 12              Purchase                  370               $6                   $2220 23              Purchase                  200                $7                  $1400 30.             Inventory.                  230   How do the average-cost values for ending inventory and cost of goods sold relate to ending inventory and cost of goods sold for FIFO and LIFO?

Shellhammer Company's inventory and purchases accounts show the following data for the month of September: Inventory, Purchases: September 1 September 8 September 18 Ending inventory Cost of goods sold $ tA Units $ 100 450 350 Unit Cost A physical inventory on September 30 shows 200 units on hand. Calculate the cost of ending inventory and cost of goods sold if the company uses the FIFO method and a periodic inventory system. $3.34 3.50 3.70 A

Hess Company's inventory records show the following data for the month of September:       Units   Unit Cost   Inventory, September 1   100     $3.00     Purchases: September 8   450     3.50       September 18   300     3.70     A physical inventory on September 30 shows 150 units on hand.Calculate the value of ending inventory and cost of goods sold if the company uses LIFO inventory costing and a periodic inventory system. Ending inventory   $enter a value of ending inventory in dollars    Cost of goods sold   $enter a cost of goods sold in dollars

please solve and explain

Howsham Ltd. reports the following for the month of June. Date Explanation Units Unit Cost June 1 Inventory 200 E5 12 Purchase 300 6 23 Purchase 500 7 30 Inventory 160 Periodic Inventory System The cost of the ending inventory The cost of goods sold Perpetual Inventory System The cost of the ending inventory The cost of goods sold $ 4 S 4 FIFO €1,120 £5,180 t FIFO £1,120 £5,180 eTextbook and Media Total Cost Indicate how the results differ between the two inventory systems? €1.000 1.800 3,500 B / VT, TI = = = JE AVERAGE-COST £1,008 £5,292 MOVING-AVERAGE COST £1,083 €5,217 Why is the average unit cost not £6 ((E5+£6+ £7)+3-£6]? Oword(s)

Phillips Company had the following information for the year ending December 31: Units Unit Cost Beginning inventory 320 $36 Purchase: April 6 580 39 Sale: May 4 450 Purchase: July 19 400 40 Sale: September 9 500 Purchase: October 10 230 44 Phillips uses the perpetual inventory system and the LIFO method. Required: Using LIFO (a) Compute the cost of ending inventory. (b) Compute the cost of goods sold for the year. Cost of ending inventory Cost of goods sold

Calculate the ending inventory and cost of goods sold dollar values for ABC Company for the month, considering the following transactions under three different cost allocation methods and using periodic inventory updating: |(a) First-in, first-out (FIFO) (b) Last-in, first-out (LIFO) Number of Unit Cost Sales Price Units Beginning Inventory 100 $20 Purchase 400 22 Sold 300 $30 Purchase 200 24 Sold 180 $35 Ending Inventory 220

Gadubhai

please help me

Hi, This question is asking to determine the cost of goods sold and the cost of ending inventory using the average cost formula.