P6.4B A) calculate the cost of goods sold and the ending inventory at June 30 using FIFOB) prepare the journal entries to record the June 25 saleC) if the company changes from FIFO to weighted average and prices continue to rise, would you expect the cost of goods sold and ending inventory amounts to be higher or lower than these amounts?

P6.3B /10 2, 6) AP You are given the following Laf. nation for Swan Valley Company for the month ended June 30, 2021: Dair Description Units Unit Price June 1 Beginning inventory 20 $50 4 Purchase 85 55 Sale (90) 18 Purchase 35 58 25 Sale (30) 28 Purchase 15 60 Swan Valley Company uses a perpetual inventory system. All sales and purchases are on account. Instructions a. Calculate the cost of goods sold and the ending inventory using weighted average. (Round the weighted average cost per unit to two decimal places.) b. Assume the sales price was $90 per unit for the goods sold on June 10, and $95 per unit for the sale on June 25. Prepare journal entries to record the June 10 sale and the June 18 purchase. c. At the end of June, the company counted its inventory. There were 32 units on hand. What journal entry, if any, should the company make to record the difference? d. If the company had not discovered this shortage, what would be overstated or understated on the balance sheet and income statement and by what amount? Taking It Further In what respects does weighted average provide more useful information than FIFO? P6.4B (LO 2, 3) AP Information for Swan Valley Company is presented in P6.3B. Assume the same inventory data and that the company uses a perpetual inventory system. Ignore the inventory difference from P6.3B part (c)