Refer to the information in P6-2B and assume the perpetual inventory system is used.

Required

a. Compute the cost of goods sold and the ending inventory cost for the month of June using the weighted-average cost method.

b. Compute the cost of goods sold and the ending inventory cost for the month of June using the first-in, first-out method.

c. Compute the cost of goods sold and the ending inventory cost for the month of June using the last-in, first-out method.

Problem  P6-2B

The Kali Company uses the periodic inventory system for its merchandise inventory. The June 1 inventory for one of the items in the merchandise inventory consisted of 60 units with a unit cost of \(\$ 45\). Transactions for this item during June were as follows:

June 5 Purchased 40 units \(@ \$ 50\) per unit.

13 Sold 50 units @ \(\$ 95\) per unit.

25 Purchased 40 units @ \(\$ 53\) per unit.

29 Sold 20 units \(@ \$ 110\) per unit.