Inventory Costing Methods-Periodic Method The Shiloh Company uses the...
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Inventory Costing Methods-Periodic Method The Shiloh Company uses the periodic inventory sys- tem for its merchandise inventory. The June 1 inventory for one of the items in the merchandise inven- tory consisted of 60 units with a unit cost of $45. Transactio June 5 Purchased 40 units@$50 per unit. P6-2B. LO2 ns for this item during June were as follows: 13 Sold 50 units @$95 per unit. 25 Purchased 30 units @$53 per unit. 29 Sold 20 units@$100 per unit. Required a Compute the cost of goods sold and the ending inventory cost for the month of June using the weighted-average cost method. Round the cost per unit to 3 decimal places and round your final answers to the nearest dollar
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