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Sheffield Company reports the following for the month of June. Units Unit Cost Total Cost June 1 Inventory 200 $7 $ 1,400 12 Purchase 400
Sheffield Company reports the following for the month of June. Units Unit Cost Total Cost June 1 Inventory 200 $7 $ 1,400 12 Purchase 400 8 3,200 23 Purchase 330 9 2,970 30 Inventory 100 (a) 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 $ $
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