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Sermone Company uses the periodic inventory method and had the following inventory information available for June: Unit Total Units Cost Cost Beg. Inventory, June !
Sermone Company uses the periodic inventory method and had the following inventory information available for June: Unit Total Units Cost Cost Beg. Inventory, June ! 1.200 S8 S 9,600 Purchases June 7 59 June 12 1,400 $10 14,000 June 23 1.100 $11 12,100 June 29 1,300 $12 15,600 Goods Available for Sale 6,000 $ 60,300 1.000 It is determined that on June 30, 2,500 units remain on hand REQUIRED Determine the cost of Goods Sold for the month of June and the cost of the Ending Inventory on June 30, assuming that Sermone Company uses the: A. First-in, First-out Costing Method (FIFO) B. Last-in, First-cut Casting Method (LIFO) C. Weighted Average Casting Method First-In, First-Out Costing (FIFO) Ending Inventory Total Cost Cost of Goods Sold Unit Cost Total Cost Units Cost Last-In, First-Out Costing (LIFO) Ending Inventory Unit Units Cost Total Cast Cost of Goods Sold Unit Cost Total Cost Weighted Average Costing Ending Inventory Unit Cost Total Cost Cost of Goods Sold Unit Cost Total Cost
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