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Metlock Inc. uses a periodic inventory system and reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June1 Inventory
Metlock Inc. uses a periodic inventory system and reports the following for the month of June.
Date | Explanation | Units | Unit Cost | Total Cost |
June1 | Inventory | 110 | $5 | $550 |
12 | Purchase | 360 | 6 | 2,160 |
23 | Purchase | 190 | 7 | 1,330 |
30 | Inventory | 192 |
Compute the cost of the ending inventory and the cost of goods sold under FIFO,LIFO, and average cost. (Round to 3 decimal places)
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