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Calculate the cost of ending inventory

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Reference no: EM132444171

BrightStar Company reported the following inventory records for June, 2012:

June 1 Beginning balance 200 $40
June 5 Purchase 600 $42
June 8 Sale @ $100 per unit 500
June 17 Purchase 400 $45
June 23 Sale @ $100 per unit 500

Selling, administrative, and depreciation expenses for the month were $20,000. BrightStar's tax rate is 35 percent. Use this information and the table above to complete the following:

  1. Calculate the cost of ending inventory and the cost of goods sold under each of the following methods:
    1. First-in, first-out.
    2. Last-in, first-out.
    3. Weighted average.

Reference no: EM132444171

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