Question: Date Description Units Unit Cost Total Cost June 1 Beginning 30 $ 11.00 $ 330.00 11 Purchase 35 12.00 420.00 24 Purchase 35 14.00 490.00
| Date | Description | Units | Unit Cost | Total Cost | ||||||
| June | 1 | Beginning | 30 | $ | 11.00 | $ | 330.00 | |||
| 11 | Purchase | 35 | 12.00 | 420.00 | ||||||
| 24 | Purchase | 35 | 14.00 | 490.00 | ||||||
| 30 | Ending | 39 | ||||||||
- Calculate the cost of ending inventory and the cost of goods sold under the (a) FIFO, (b) LIFO, and (c) weighted average cost methods. (Do not round your intermediate calculations. Round "Weighted Average Cost" to 2 decimal places.)
Required:
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
