Question: Date Description Quantity Unit Cost or Selling Price June 1 Beginning inventory 40 $42 June 4 Purchase 138 47 June 10 Sale 111 67 June

Date

Description

Quantity

Unit Cost or Selling Price

June

1

Beginning inventory

40

$42

June

4

Purchase

138

47

June

10

Sale

111

67

June

11

Sale return

13

67

June

18

Purchase

56

48

June

18

Purchase return

10

48

June

25

Sale

65

72

June

28

Purchase

25

52

Calculate ending inventory, cost of goods sold, gross profit under each of the following methods. (1) LIFO. (2) FIFO. (3) Average-cost.

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