Calculate Cost of Ending Inventory and Cost of Goods Sold under Periodic FIFO, LIFO, and...
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Accounting
Calculate Cost of Ending Inventory and Cost of Goods Sold under Periodic FIFO, LIFO, and Weighted Average Cost
| Spotter Corporation reported the following for June in its periodic inventory records. |
| Date | Description | Units | Unit Cost | Total Cost | |||||
| June | 1 | Beginning | 12 | $ | 8 | $ | 96 | ||
| 11 | Purchase | 38 | 9 | 342 | |||||
| 24 | Purchase | 20 | 11 | 220 | |||||
| 30 | Ending | 24 | |||||||
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