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 $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	30	units @	$53	per unit
	29	Sold	20	units@	$100	per unit

Required

a. Compute 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. 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.

a.	Weighted Average
	Ending Inventory	Answer
	Cost of goods Sold	Answer
b.	First-in, First-out:
	Ending Inventory	Answer
	Cost of Goods Sold:	Answer
c.	Last-in, first-out:
	Ending Inventory	Answer
	Cost of Goods Sold:	Answer

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