2. (18 points) M&M Corporation's transactions related to its inventory balance in June 2019 are...
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2. (18 points) M&M Corporation's transactions related to its inventory balance in June 2019 are as follows: Beginning Balance, June 1 Purchase, June 8 Purchase, June 21 500 units @ $8 each 200 units @ $10 each 300 units @ $13 each *Sale, June 3 *Sale, June 15 *Sale, June 27 100 units @ $16 each 300 units @ $19 each 400 units @ $22 each *Assume all sales were made in cash. c. (4 pts) If M&M Corporation uses the perpetual inventory method and the LIFO cost flow assumption, please indicate the amount of ending inventory that should be reported on June 30, 2019. d. (4 points) Assuming that the perpetual inventory method is used and that M&M Corporation adopts the FIFO cost flow assumption, please indicate the amount of gross profit that M&M Corporation reports for the month of June
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