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Klump Co. uses a perpetual inventory system and had the following inventory transactions for the month of June. June1On hand, 50 units at $18.00 each$
Klump Co. uses a perpetual inventory system and had the following inventory transactions for the month of June.
June1On hand, 50 units at $18.00 each$ 900.00 4Purchased 115 units at $18.20 each2,093.00 5Sold 100 units 10Purchased 75 units at $18.25 each1,368.75 24Sold 50 units Total cost of goods available for sale$4,361.75 30On hand, 100 unitsRefer to the information provided for Klump Co. If the company uses the LIFO method, the amount of Cost of goods sold and ending inventory reported on the balance sheet is:
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