calculate the June 30 inventory and the June cost of goods sold, using FIFO formula

ending inventory

cost of goods sold

Monty Limited uses a periodic inventory system. On June 24, the company sold 750 units. The following additional information is available: Unit Cost Total Cost Units June 1 inventory 250 $ 12 $3,000 June 15 purchase 500 13 6,500 June 23 purchase 500 18 9,000 1,250 $ 18,500