Question: Inventory Costing Methods - Periodic Method The Shiloh Company uses the periodic inventory system for its merchandise inventory. The June 1 inventory for one

Inventory Costing Methods - Periodic Method The Shiloh 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 $80. Transactions for this item during June were as follows: June 5 Purchased 40 units 190 per unit 13 Sold 50 units 25 Purchased 30 units @ 29 Sold 20 units $130 per unit $92 per unit $135 per unit Required a. Calculate the cost of goods sold and the ending inventory cost for the month of june using the weighted-average cost method. Round the cost per unit to 3 decimal places and round your final answers to the nearest dollar. b. Calculate the cost of goods sold and the ending inventory cost for the month of june using the first-in, first-out method. c. Calculate the cost of goods sold and the ending inventory cost for the month of june using the last-in, first-out method.
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