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Pina Colada Limited uses a periodic inventory system. On June 24, the company sold 600 units. The following additional information is available: Units Unit Cost

Pina Colada 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

400 15 6,000

June 23 purchase

400 16 6,400
1,000 $14,800

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Calculate the June 30 inventory and the June cost of goods sold, using the weighted average cost formula. (Round weighted average cost per unit to 2 decimal places, e.g. 5.27 and final answers to 0 decimal places, e.g. 5,275.)

Ending inventory

$

Cost of goods sold

$

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Calculate the June 30 inventory and the June cost of goods sold, using the FIFO formula.

Ending inventory

$

Cost of goods sold

$

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Assume that 200 units sold on June 24 had a unit cost of $12; 300 had a unit cost of $15; and the remaining 100 units had a unit cost of $16. Calculate the June 30 inventory and the June cost of goods sold, using the specific identification method.

Ending inventory

Cost of goods sold

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