Inventory Costing Methods - Periodic Method The Shiloh Company uses the periodic 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 $50. Transactions for this item during June were as follows:

June	5	Purchased	40	units@	$60	Per unit
	13	Sold	50	units@	$100	Per unit
	25	Purchased	30	units@	$62	Per unit
	29	Sold	20	units@	$105	Per unit

Required

a. Calculate the cost of goods sold and the ending inventory cost for the month of June using the weighted-average cost method. Round the cost per unit to 3 decimal places and round your final answers to the nearest dollar. 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

$

Cost of goods sold

$

c. Last in First out.

Ending inventory

$

Cost of goods sold

$