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More & More Limited uses a periodic inventory system. On June 2 4 , the company sold 6 0 0 units. The following additional information

More & More Limited uses a periodic inventory system. On June 24,
the company sold 600 units. The following additional information is available:
Units Unit Cost Total Cost
June 1 inventory 200 $12 $ 2,400
June 15 purchase 400145,600
June 23 purchase 400156,000
1,000 $14,000
a. Calculate the June 30 inventory and the June cost of goods sold, using the weighted average cost
formula. Round per-unit
costs to two decimal places. b. Calculate the June 30 inventory and the June cost of goods sold, using the FIFO formula. c. Assume that 200 units sold on June 24 had a unit cost of $12; 300 had a unit cost of $14; and the
remaining 100 units had a unit cost of $15. Calculate the June 30 inventory and the June cost of goods sold, using the specific identification method

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