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how can I solve this 3) Inventory (25 Points) During June, the following changes in inventory took place: June 1 10 24 Beginning Balance Purchased
how can I solve this
3) Inventory (25 Points) During June, the following changes in inventory took place: June 1 10 24 Beginning Balance Purchased Purchased 500 units @ $25 per unit 800 units @ $35 per unit 700 units a $10 per unit 400 units a $50 per unit 800 units a $50 per unit 600 units SS5 per unit Sold Sold 14 Required: Round your final answers to the nearest dollar a) What are the values of the ending inventory and cost of yoods sold on June 30 under the FIFO method with a periodic inventory system? b) What are the values of the ending inventory and cost of goods sold on June 30 under the Average Cost method assuming a periodic inventory system isused! c) What are the values of the ending inventory and cost of goods sold on June 30 under the LIFO method with a perpetual inventory system? booX 50 = 30,000 500X25 = 12,500 600 X 55 = 33,000 (7,000 500x35=175,000 30,000 500125=12800 6ooxgg = 33,000 Yoox 50=20,000 800 x 50 = 40,000 45,500 6oor 55= 33,000 93,000 500x25=12500 Soo X35 = 28,000 700 X30 = 21,000 100x29=2,500 00X30 = 3,000 1,500 5,500Step by Step Solution
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