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Melissa Company reports the following for the month of June. Unit Date Explanation Units Total Cost Cost June 1 Inventory 480 $5 $2,400 12 Purchase

image text in transcribed Melissa Company reports the following for the month of June. Unit Date Explanation Units Total Cost Cost June 1 Inventory 480 $5 $2,400 12 Purchase 780 6 4,680 23 Purchase 940 7 6,580 Calculate the cost of the ending inventory and the cost of goods sold for each cost flow assumption, using a perpetual inventory system. Assume a sale of 850 units occurred on June 15 for a selling price of $8 and a sale of 880 units on June 27 for $9. (Round average cost per unit to 3 decimal places, e.g. 5.254 and final answers to O decimal places, e.g. 2,520.) FIFO Cost of the ending inventory $ Cost of goods sold LIFO $ Moving Average $ $ $ $

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