Exercise 6-7
Teal Mountain Inc. reports the following for the month of June.
| Date | Explanation | Units | Unit Cost | Total Cost | ||||
| June 1 | Inventory | 121 | $5 | $ 605 | ||||
| 12 | Purchases | 335 | 6 | 2,010 | ||||
| 23 | Purchases | 198 | 7 | 1,386 | ||||
| 30 | Inventory | 216 |
Calculate weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125.)
| Weighted-average unit cost | $ |
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.)
| FIFO | LIFO | Average-cost | ||||
| The cost of the ending inventory | $ |
$ |
$ |
|||
| The cost of goods sold | $ |
$ |
$ |
