Spotter Corporation reported the following for June in its periodic inventory records. Date Description Units Unit Cost 12 50 38 42 Total Cost $139.20 630.00 554.80 June 1 Beginning 11 Purchase 24 Purchase 30 Ending $11.60 12.60 14.60 Required: 1. Calculate the cost of ending inventory and the cost of goods sold under the (a) FIFO, (b) LIFO, and (c) weighted average cost methods. (Do not round your intermediate calculations. Round "Weighted Average Cost" to 2 decimal places.)

Spotter Corporation reported the following for June in its periodic inventory records. Date Description Units Unit Cost 12 50 38 42 Total Cost $139.20 630.00 554.80 June 1 Beginning 11 Purchase 24 Purchase 30 Ending $11.60 12.60 14.60 Required: 1. Calculate the cost of ending inventory and the cost of goods sold under the (a) FIFO, (b) LIFO, and (c) weighted average cost methods. (Do not round your intermediate calculations. Round "Weighted Average Cost" to 2 decimal places.)

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 2PA: Trini Company had the following transactions for the month. Calculate the ending inventory dollar...

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