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Kiser Company reports the following for the month of June.

Kiser Company reports the following for the month of June.

Date Explanation Units Unit Cost Total Cost
June 1 Inventory 165 $7 $1,155
June 12 Purchase 495 8 3,960
June 23 Purchase 660 9 5,940
June 30 Inventory 264

Compute the cost of the ending inventory and the cost of goods sold under (1) FIFO, (2) LIFO, and (3) average cost. (For average cost, round unit cost to 3 decimal places, e.g. 2.575. Round final answers to 0 decimal places, e.g. 5,775.)

FIFO LIFO Average Cost
Ending Inventory
Cost of Goods Sold

Jun 05 2018 View more View Less

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