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a company's inventory records contain the following informtation:
Beginning Inventory: 300 Units , $780
Purchased on June 10: 400 units 1,170
Purchased on June 25: 500 Units , 1260
Purchases on June 28: 300 Units, 990
Total: 1,500 units, $4200
The company sold 1,000 units during june and 500 units were in its ending inventory on June 30.
1) If the company uses LIFO method, what is the cost of its ending inventory:
a. $1,365
b. $1,494
c. $1,620
d. $2,835
2) if the company uses the weighted average inventory costing method, what is the cost of its ending inventory?
a. $4,200
b. $2,700
c. $1,400
d. $1,365
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