Business, 06.06.2020 18:01 kenzielema12

Larkspur, Inc. uses a periodic inventory system. Its records show the following for the month of May, in which 80 units were sold. DateExplanationUnitsUnit CostTotal Cost
May 1Inventory28$9$252
15Purchase2610260
24Purchase3911429
Total93 $941
Required:
1. Calculate the weighted-average unit cost. (Round answer to 3 decimal places, e. g. 5.125.)
2. Calculate the ending inventory at May 31 using the FIFO, LIFO and average-cost methods. (Round answers to 0 decimal places, e. g. 125.)

Answers: 1

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Larkspur, Inc. uses a periodic inventory system. Its records show the following for the month of May...

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