Question
Nova Scotia Eco kits is a wholesaler specialized in high end and environmental friendly kits very popular with elementary school students. In the industry the
Nova Scotia Eco kits is a wholesaler specialized in high end and environmental friendly kits very popular with elementary school students. In the industry the month of June is one of the worst for sales, but not as bad as July. Transactions in the month of June are summarized as follows: Opening Inventory June 1st Purchase #1 June 5th Purchase #2 June 15th Sale #1 June 17th Purchase #3 June 22th $32;000 (4,000 units @ $8) 9,280 units @ $11 6.000 units @$12 16,280 units @ $20 2.000 units @ $14 Required 1: What is the cost of goods sold for June if the company uses the FIFO periodic inventory method? $ Required 2: What is the cost of goods sold for June if the company uses the FIFO perpetual inventory method? $ Required 3: What is the Cost of Goods Sold for June if the company uses the LIFO periodic inventory system? $ Required 4: What is the Cost of Goods Sold for June if the company uses the LIFO perpetual inventory system? $ Required 5: What is the Cost of Goods Sold for June if the company uses the Weighted Average periodic inventory system? $ Required 6: What is the Cost of Goods Sold for June if the company uses the Weighted Average perpetual inventory system? $ Instructions: Use 2 decimal places and only type the number without signs except for negative numbers that are preceded by a minus sign ".". If the right answer is 1070.39 you type "1070.39", it will not be read as correct if you type "1,070.39", "$1070.39" or any other combination. If the right answer is negative 1070.39 you type "-1070.39"
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