Ending inventory and cost of goods sold

Assignment Help Financial Accounting

Reference no: EM13929413

You are provided with the following information for Najera Inc. for the month ended June 30, 2015. Najera uses the periodic method for inventory.

Date Description Quality Unit Cost or Selling Price
June 1 Beginning inventory 43 $42
June 4 Purchase 139 45
June 10 Sale 108 68
June 11 Sale return 14 68
June 18 Purchase 55 47
June 18 Purchase return 11 47
June 25 Sale 66 73
June 28 Purchase 25 52

Calculate ending inventory, cost of goods sold, gross profit under each of the following methods. (1) LIFO. (2) FIFO. (3) Average-cost.

Reference no: EM13929413

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