The following are data available for Blue Grass for the month of June:
Sales 1200 units
beginning inventory 30 units @ $2.00
Purchases, in chronological order 600 units @ $2.10
400 units @ $2.20
500 units @ $2.30
Calculate cost of goods sold and ending inventory under the following cost flow assumptions:
(1.) Weighted average
(2.) FIFO
(3.) LIFO
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