Kaleta Company uses a periodic reporting system for the month of June. Units Unit cost Total cost
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Question:
Kaleta Company uses a periodic reporting system for the month of June. |
Units | Unit cost | Total cost | |||||||||
June 1 | Inventory | 260 | $3 | $ 780 | |||||||
12 | Purchase | 520 | 8 | 4,160 | |||||||
23 | Purchase | 390 | 11 | 4,290 | |||||||
30 | Inventory | 130 |
Calculate the cost of ending inventory and the cost of goods sold under FIFO and LIFO.
Related Book For
Financial Accounting Tools for Business Decision Making
ISBN: 978-1119493631
9th edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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