Question - Koleta Company uses a periodic system reports the following for the month of June.
|
|
|
Units
|
Unit Cost
|
Total Cost
|
|
June 1
|
Inventory
|
404
|
$3
|
$1,212
|
|
June 12
|
Purchase
|
808
|
7
|
5,656
|
|
June 23
|
Purchase
|
606
|
10
|
6,060
|
|
June 30
|
Inventory
|
202
|
|
|
Required - Compute the cost of the ending inventory and the cost of goods sold under FIFO and LIFO.