Marin Inc. uses a perpetual inventory system. Data for product E2-D2 include the purchases shown below. Date Number of Units Unit Price May 7 60 $17 July 28 34 22 On June 1, Marin Inc. sold 30 uni

Marin Inc. uses a perpetual inventory system. Data for product E2-D2 include the purchases shown below.

Date Number of Units Unit Price

May 7 60 $17

July 28 34 22

On June 1, Marin Inc. sold 30 units, and on August 27, 34 more units.

a) Calculate the average cost. (Round answers to 3 decimal places, e.g. 5.125.)

June 1 sale: $

Aug. 27 sale: $

b) Compute the cost of goods sold using FIFO, LIFO, and average-cost. (Round answers to 0 decimal places, e.g. 125.)

Cost of goods sold FIFO LIFO AVERAGE-COST – $ $ $

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