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Inventory information for Part 311 of Chi Corp. discloses the following information for the month of June: June 1 Balance June 10 Sold 300 units
Inventory information for Part 311 of Chi Corp. discloses the following information for the month of June: June 1 Balance June 10 Sold 300 units @ $30 600 units @ $10 400 units @ $20 June 11 Purchased June 15 Sold 300 units @ $40 a) Assuming that the PERIODIC inventory method is used, compute the cost of goods sold AND ending inventory under LIFO. Show your calculation? b) Assuming that the PERPETUAL inventory method is used, compute the cost of goods sold AND ending inventory under LIFO. Show your calculation? c) Compute the cost of goods sold AND ending inventory under the weighted-average assumption. Show your calculation? d) Compute the cost of goods sold AND ending inventory under the FIFO. Show your calculation
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