o It! Exercise 6-02 a-c (Part Level Submission)

The accounting records of Metlock, Inc. show the following data.

Beginning inventory		2,980	units at	$5
Purchases		8,090	units at	$6
Sales		9,390	units at	$10

(a)

	Your answer is incorrect. Try again.

Determine cost of goods sold during the period under a periodic inventory system using the FIFO method. (Round answer to 0 decimal places, e.g. 1,250.)

		FIFO
Cost of goods sold during the period		$

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(b)

	Your answer is incorrect. Try again.

Determine cost of goods sold during the period under a periodic inventory system using the LIFO method. (Round answer to 0 decimal places, e.g. 1,250.)

		LIFO
Cost of goods sold during the period		$

c?

Exercise 6-07 a-c (Part Level Submission) (Video)

Windsor, Inc. reports the following for the month of June.

				Units			Unit Cost			Total Cost
June 1		Inventory		556			$6			$ 3,336
12		Purchase		1,112			7			7,784
23		Purchase		834			11			9,174
30		Inventory		278

(a)

	Your answer is partially correct. Try again.

Compute the cost of the ending inventory and the cost of goods sold under FIFO and LIFO.

		FIFO		LIFO
Cost of the ending inventory		$		$
Cost of goods sold		$		$

$