Inventory Costing Methods-Perpetual Method
Kali Company uses the perpetual inventory system for itsmerchandise inventory. The June 1 inventory for one of the items inthe merchandise inventory consisted of 60 units with a unit cost of$45. Transactions for this item during June were as follows:
| June | 5 | Purchased | 40 | units @ | $50 per unit |
| 13 | Sold | 50 | units @ | $95 per unit |
| 25 | Purchased | 40 | units @ | $53 per unit |
| 29 | Sold | 20 | units@ | $110 per unit |
Required
a. Compute the cost of goods sold and the ending inventory cost forthe month of June using the weighted-average cost method. Do notround until your final answers. Round to the nearest dollar.
b. Compute the cost of goods sold and the ending inventory cost forthe month of June using the first-in, first-out method.
c. Compute the cost of goods sold and the ending inventory cost forthe month of June using the last-in, first-out method.
a) Weighted average
Ending Inventory:
Cost of goods sold:
b) First in, First out:
Ending Inventory:
Cost of goods sold:
c) Last in, First Out:
Ending Inventory:
Cost of goods sold:
