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Inventory information for Part 311 of Sweet Corp. discloses the following information for the month...

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Accounting

Inventory information for Part 311 of Sweet Corp. discloses the following information for the month of June.

June 1

Balance

301 units @ $12

June 10

Sold

200 units @ $28

11

Purchased

804 units @ $14

15

Sold

504 units @ $29

20

Purchased

497 units @ $15

27

Sold

304 units @ $32

Assuming that the periodic inventory method is used, compute the cost of goods sold and ending inventory under (1) LIFO and (2) FIFO. Cost of Goods Sold- Ending Inventory. Assuming that the perpetual inventory method is used and costs are computed at the time of each withdrawal, what is the value of the ending inventory at LIFO?

The ending inventory at LIFO

Assuming that the perpetual inventory method is used and costs are computed at the time of each withdrawal, what is the gross profit if the inventory is valued at FIFO?

Gross Profit (FIFO)

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