Question

Winston Corp. has the following inventory information available for June of 20X1: Date Number of Units Cost per unit Total Cost 80 $12 $960 June 1 Beginning Inventory June 15 Purchases 100 $ 9 $900 June 30 Purchases 35 $11 $385 The company sold 100 units in June. Required: Using the above information, fill in the chart below with the amounts that should be reported for total cost of goods sold for June and the cost of ending inventory at June 30 under both the LIFO and FIFO cost flow assumptions, respectively. Do not include commas or decimal points in your answers. LIFO FIFO Cost of Goods Sold $ e $ e Cost of Ending Inventory $ $ .

Answer 1

Auswer. Ptal cuit Inventory kaluation for Sune 2001 paliculas Begining furenity $IL Date cost perunt unin Juneri fo $. 960 $ 900 (Oo $9 จงพ- (иусия') $ 3.85 une-30 Parclause) Su 35 futals to e cocos 218 units 22u9 sales Closing units a Tutal available units I a unisa = 215 units - 100 units Cloring Ігииi+s.

under i form Cost u houds sold e of 100 units Consists of = 35 unitsy u + 65 units & its xq - 385 + 585 970 cost s endina Inventory under UFO Closing This чиік - Lifaut lis consist at a 80 unitsx 12 & 3r unitsx 9 960+ 315 1278 under F.I.FO Cort & houts Sola A a 100 units SOX IL + 2049 Consists ot -qoot 180 a Iluo ending Inventorn consista ut - IIT units 35 unitsx 11 of 50 unitsx q 389 t20 720 lior = - Lito FIFO 970 Iluo cost at Goods sand ending Inventan 1$ 12.75 $1105 If any quarry comment wv) Give a like