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BAF Company uses a periodic inventory system and its inventory records for June contain the following information: Total Beginning Inventory: 300 units 780 Purchased on
BAF Company uses a periodic inventory system and its inventory records for June contain the following information: Total Beginning Inventory: 300 units 780 Purchased on June 10 400 units $1,170 Purchased on June 15 500 units $1,260 Purchased on June 28 300 units $ 990 1,500 $4,200 The company sold 1,000 units during June and 500 units were in its ending inventory on June 30. 1. If the company uses the LIFO costing method, what is the cost of its ending inventory? 2. If the company uses the FIFO costing method, what is the cost of the ending inventory? 3. If the company uses the weighted average inventory costing method, what is the cost of its ending inventory
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