Reference no: EM131593124

Q1. Kaleta Company uses a periodic system reports the following for the month of June.

		Units	Unit Cost	Total Cost
June 1	Inventory	300	$6	$1,800
12	Purchase	600	7	4,200
23	Purchase	450	12	5,400
30	Inventory	150

Required - Compute of cost of the ending inventory and the cost of goods sold under FIFO and LIFO.

Q2. Linda's Boards sells a snowboard, XPert, that is popular with snowboard enthusiasts. Information relating to Linda's purchase of Xpert snowboarding during September is shown below. During the same month, 254 Epert snowboards were sold. Linda's uses a periodic inventory system.

Date	Explanation	Units	Unit Cost	Total Cost
Sept. 1	Inventory	55	$97	$5,335
Sept. 12	Purchases	95	104	9,880
Sept. 19	Purchase	42	109	4,578
Sept. 26	Purchases	105	114	11,970
	Totals	297		$31,763

Required - Compute the ending inventory at September 30 and cost of goods sold using the FIFO and LIFO methods.