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Sunland Company uses a periodic system reports the following for the month of June. Units Unit Cost Total Cost June 1 Inventory 280 $6 $
Sunland Company uses a periodic system reports the following for the month of June.
Units | Unit Cost | Total Cost | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
June 1 | Inventory | 280 | $6 | $ 1,680 | |||||||
12 | Purchase | 440 | 7 | 3,080 | |||||||
23 | Purchase | 330 | 8 | 2,640 | |||||||
30 | Inventory | 110 |
(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 | $Enter a dollar amount | $Enter a dollar amount | ||
Cost of goods sold | $Enter a dollar amount | $Enter a dollar amount |
*I'll add a part (b) AND (C) to this right after you answer (a), please keep an eye out for that, THANK YOU!
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