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Limited uses a periodic inventory system. On June 24, the company sold 660 units. The following additional information is available: Unit Cost Total Cost Units
Limited uses a periodic inventory system. On June 24, the company sold 660 units. The following additional information is available: Unit Cost Total Cost Units June 1 inventory 220 $10 $2,200 June 15 purchase 440 16 7,040 June 23 purchase 440 18 7,920 1.100 $17,160 Calculate the June 30 inventory and the June cost of goods sold, using the weighted average cost formula. (Round weighted average cost per unit to 2 decimal places, e.g. 5.27 and final answers to 0 decimal places, e.g. 5,275.) Ending inventory $ Cost of goods sold $ Calculate the June 30 inventory and the June cost of goods sold, using the FIFO formula. Ending inventory $ Cost of goods sold $ Assume that 220 units sold on June 24 had a unit cost of $10; 340 had a unit cost of $16; and the remaining 100 units had a unit cost of $18. Calculate the June 30 inventory and the June cost of goods sold, using the specific identification method. Ending inventory $ Cost of goods sold $ $
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