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

Melissa Company reports the following for the month of June.

Date Explanation Units Unit Cost Total Cost

June

1

Inventory

480 $5 $2,400

12

Purchase

780 6 4,680

23

Purchase

980 7 6,860

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 0 decimal places, e.g. 2,520.)

FIFO LIFO Moving Average

Cost of the ending inventory

$enter the cost of the ending inventory in dollars under FIFO method $enter the cost of the ending inventory in dollars under LIFO method $enter the cost of the ending inventory in dollars under moving average method

Cost of goods sold

$enter the cost of the goods sold in dollars under FIFO method $enter the cost of the goods sold in dollars under LIFO method $enter the cost of the goods sold in dollars under moving average method

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