Cost of goods sold and ending inventory

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Reference no: EM13918873

Inventory information for Part 311 of Monique Aaron Corp. discloses the following information for the month of June.

June 1 Balance 298 units @ $12 June 10 Sold 196 units @ $29

June 11 Purchased 803 units @ $14 15 Sold 503 units @ $30

June 20 Purchased 496 units @ $16 27 Sold 301 units @ $32

(a) Assuming that the periodic inventory method is used, compute the cost of goods sold and ending inventory under (1) LIFO and (2) FIFO.

Reference no: EM13918873

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