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Jeters Company uses a periodic inventory system and reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 100 $4 $ 400 12 Purchases 400 6 2,400 23 Purchases 250 8 2,000 30 Inventory 230 (a) Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost. (For calculation purposes, round average cost to 3 decimal places, e. g. 5.275. Round answers to 0 decimal places, e. g. 125.) FIFO LIFO Average-Cost The cost of the ending inventory $enter cost of the ending inventory under First In First Out in dollars $enter cost of the ending inventory under Last In First Out in dollars $enter cost of the ending inventory under average-cost in dollars The cost of goods sold $enter cost of goods sold under First In First Out in dollars $enter cost of goods sold under Last In First Out in dollars $enter cost of goods sold under average-cost in dollars
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Jeters Company uses a periodic inventory system and reports the following for the month of June. Dat...
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