Calculate the cost of ending inventory

Reference no: EM13909503

Situation D: 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:

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: EM13909503

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