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Swifty Limited uses a periodic inventory system. On June 2 4 , the company sold 6 0 0 units. The following additional information is available:
Swifty Limited uses a periodic inventory system. On June the company sold units. The following
additional information is available:
Calculate the June inventory and the June cost of goods sold, using the weighted average cost
formula. Round weighted average cost per unit to decimal places, eg and final answers to decimal
places, eg
Ending inventory
Cost of goods sold
Calculate the June inventory and the June cost of goods sold, using the FIFO formula.
Ending inventory
Cost of goods sold
Assume that units sold on June had a unit cost of $; had a unit cost of $; and the
remaining units had a unit cost of $ Calculate the June inventory and the June cost of goods
sold, using the specific identification method.
Ending inventory $
Cost of goods sold $
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