Klutznik Manufacturing uses a periodic inventory system and has the following transactions for the month of June :
Date Transactions Units Unit Cost Total Cost
June Beginning inventory $ $
June Sale
June Purchase
June Sale
June Purchase
June Sale
June Purchase
$
Required:
Calculate ending inventory and cost of goods sold at June using the specific identification method. The June sale consists of units from beginning inventory, the June sale consists of three units from beginning inventory and nine units from the June purchase, and the June sale consists of one unit from beginning inventory and seven units from the June purchase.
Using FIFO, calculate ending inventory and cost of goods sold at June
Using LIFO, calculate ending inventory and cost of goods sold at June
Using weightedaverage cost, calculate ending inventory and cost of goods sold at June
