- 423 Cost of goods sold $ 340757.69 Question 5 Not yet answered Marked out of 10.00 P Flag question Support o Inventory Costing Methods-Perpetual Method Shiloh Company uses the perpetual 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 $40. Transactions for this item during June were as follows: June 5 Purchased 40 units $50 per unit 13 Sold 50 units @ 90 per unit 25 Purchased 30 units @ 52 per unit 29 Sold 20 units Required a. Calculate the cost of goods sold and the ending inventory cost for the month of June using the weighted average cost method. 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. a. Weighted Average Ending Inventory $ Cost of goods Sold $ b. First-in, First-out: Ending Inventory S 3060 Cost of Goods Sold: S 2900 Last-in. first-out: Ending Inventory $ 2400 Cost of Goods Sold: $ 3560 Question 6 P Flag question Not yet answered Marked out of 15.00 A 4 0 2 ENG 4/12/2020