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Mango Corp. had the following information related to their June 2020 Inventory: Date Transaction Type # Units Price 6/1/20 Beginning Balance 140 $31.00 6/18/20 Purchase

Mango Corp. had the following information related to their June 2020 Inventory:

Date

Transaction Type

# Units

Price

6/1/20

Beginning Balance

140

$31.00

6/18/20

Purchase

260

$33.00

6/23/20

Purchase

270

$37.00

Mango Corp. sold 430 units of inventory at a price of $56 per unit in June.

Requirement 1: Provide the ending inventory in units and cost and Cost of Goods Sold for June 2020 using the FIFO (First-in-First-Out) Accounting method.

Requirement 2: Provide the ending inventory in units and cost and Cost of Goods Sold for June 2020 using the LIFO (Last-in-First-Out) Accounting method.

Requirement 3: Provide the Gross Profit for Mango Corp. for June assuming LIFO inventory costing.

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