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QUESTION 22 5 points Smith Ltd reports the following for the month of June. Total cost $3,230 54,800 $5.850 Unit Date Explanation Units Cost Jun-01

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QUESTION 22 5 points Smith Ltd reports the following for the month of June. Total cost $3,230 54,800 $5.850 Unit Date Explanation Units Cost Jun-01 Opening balance 190 SI7 12 Purchases 320 15 23 Purchases 450 13 30 Closing balance 175 Required (5 Marks) Assuming the company uses the periodic inventory system, calculate: the cost of the ending inventory at 30 June, and the cost of sales for the month of June under FIFO, LIFO and average cost (Round average cost per unit calculations to 2 decimal places, eg, 12.36 and final answers to o decimal places, e.g. 2,347.) For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac) BIVS Paragraph Arial 14px !!! A 2 IXO

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