Homework Answers
a) Average cost
| June 1 Sale | 30*13 = 390 |
| Aug 27 Sale | (30*13+45*18)/75*45 = 720 |
b) Calculate cost of goods sold
| FIFO | LIFO | Average cost | |
| Cost of good sold | (60*13+15*18) = 1050 | (30*13+45*18) = 1200 | 390+720 = 1110 |
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