Metlock Ltd. reports the following for the month of June.

1. Calculate the cost of the ending inventory and the cost of goods sold for FIFO, using a perpetual inventory system. Assume a sale of 384 units occurred on June 15 for a selling price of 8 and a sale of 406 units on June 27 for 9. (Round answers to 0 decimal places, e.g. 2,120.)

Cost inventory ?

COGS?

2. Calculate the cost of the ending inventory and the cost of goods sold for moving-average cost, using a perpetual inventory system. Assume a sale of 384 units occurred on June 15 for a selling price of 8 and a sale of 406 units on June 27 for 9. (Round average unit cost to 3 decimal places, e.g. 25.167 and final answers to 0 decimal places, e.g. 2,120.)

Cost inventory ?

COGS?

Date Explanation Units Unit Cost Total Cost June 1 Inventory 196 5 980 June 12 Purchase 294 6 1,764 June 23 Purchase 480 7 3,360 June 30 Inventory 180