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Spotter Corporation reported the following for June in its periodic inventory records. Date Description Units Unit Cost Total Cost June 1 Beginning 18 $ 10.60
Spotter Corporation reported the following for June in its periodic inventory records.
| Date | Description | Units | Unit Cost | Total Cost | ||||||
| June | 1 | Beginning | 18 | $ | 10.60 | $ | 190.80 | |||
| 11 | Purchase | 45 | 11.60 | 522.00 | ||||||
| 24 | Purchase | 33 | 13.60 | 448.80 | ||||||
| 30 | Ending | 37 | ||||||||
Required:
- Calculate the cost of ending inventory and the cost of goods sold under the (a) FIFO, (b) LIFO, and (c) weighted average cost methods. (Do not round your intermediate calculations. Round "Weighted Average Cost" to 2 decimal places.)
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Accounting And Auditing Standards For Islamic Financial Institutions
Authors: Mohd MaSum Billah
1st Edition
103206353X, 978-1032063539
