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Inventory data for Waterway Company are reported as follows. Date Explanation Units Unit Cost Total Cost June 1 Inventory 150 $6 $900 12 Purchase 450

Inventory data for Waterway Company are reported as follows.

Date

Explanation

Units

Unit Cost

Total Cost

June 1

Inventory

150 $6 $900

12

Purchase

450 7 3,150

23

Purchase

380 8 3,040

30

Inventory

100

Assume a sale of 480 units occurred on June 15 for a selling price of $9 and a sale of 400 units on June 27 for $9.

Calculate the cost of the ending inventory and the cost of goods sold for each cost flow assumption, using a perpetual inventory system. (Round average-cost per unit to 3 decimal places, e.g. 12.520 and final answer to 0 decimal places, e.g. 1,250.)

FIFO

LIFO

Moving-Average Cost

The cost ending inventory

$enter a dollar amount rounded to 0 decimal places

$enter a dollar amount rounded to 0 decimal places

$enter a dollar amount rounded to 0 decimal places

The cost of goods sold

$enter a dollar amount rounded to 0 decimal places

$enter a dollar amount rounded to 0 decimal places

$enter a dollar amount rounded to 0 decimal places

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