Sweygandt, Financial Accounting, 10e Exercise 6-7 Kaleta Company reports the following for the month of...
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Sweygandt, Financial Accounting, 10e Exercise 6-7 Kaleta Company reports the following for the month of June. Unit Units Cost Total Cost June 1 Inventory200 12 Purchase400 23 Purchase 300 30 Inventory 100 $ 1,000 2,400 2,100 $5 Compute the cost of the ending inventory and the cost of goods sold under FIFO and LIFO. FIFO LIFO Cost of the ending inventorys Cost of goods sold Which costing method gives the higher ending inventory? Which method results in the higher cost of goods sold? Click if you would like to Show Work for this question: Open show work
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