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Can you help guide me in how to calculate this? Wilson Lawn & Garden sells lawn and garden equipment and products, including 50-pound bags of

Can you help guide me in how to calculate this?

Wilson Lawn & Garden sells lawn and garden equipment and products, including 50-pound bags of fertilizer. Use the following information to determine the cost of goods sold and the value of the ending inventory of fertilizer bags under each of the designated cost flow assumptions. Wilson uses a periodic inventory system.

DATE

PER UNIT

TOTAL

June 1 Balance

300 bags at $10 per bag

$ 3,000

June 10 Sold

200 bags at $24 per bag

$ 4,800

June 11 Purchased

800 bags at $12 per bag

$ 9,600

June 15 Sold

500 bags at $25 per bag

$ 12,500

June 20 Purchased

500 bags at $13 per bag

$ 6,500

June 27 Sold

300 bags at $27 per bag

$ 8,100

Inventory (in Units)

300 bags

LIFO Cost of Goods Sold During June:$

June 30 Ending Inventory Value: $

FIFO Cost of Goods Sold During June:$

June 30 Ending Inventory Value: $

Units LIFO $FIFO $

Beginning Inventory

+ Purchases__________________________

Available for Sale

-Ending Inventory__________________________

Cost of Goods Sold

LIFO $FIFO $

Sales

Less: Cost of Goods Sold___________________

Gross Profit

Gross Profit %

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