Spotter Corporation reported the following for June In Its perlodic Inventory records. Date Description Beginning Units Unit Cost Total Cost June 1 12 $ 8 $ 96 11 Purchase 38 9. 342 24 Purchase 20 11 220 30 Ending 24 Requlred: 1. Calculate the cost of ending Inventory and the cost of goods sold under the (a) FIFO and (b) welghted average cost methods. not round your Intermedlate calculations. Round "Welghted Average Cost" to 2 decimal places.) Cost of Ending Cost of Goods Inventory Sold FIFO 256 402 Weighted average cost
Spotter Corporation reported the following for June In Its perlodic Inventory records. Date Description Beginning Units Unit Cost Total Cost June 1 12 $ 8 $ 96 11 Purchase 38 9. 342 24 Purchase 20 11 220 30 Ending 24 Requlred: 1. Calculate the cost of ending Inventory and the cost of goods sold under the (a) FIFO and (b) welghted average cost methods. not round your Intermedlate calculations. Round "Welghted Average Cost" to 2 decimal places.) Cost of Ending Cost of Goods Inventory Sold FIFO 256 402 Weighted average cost
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Spotter Corporatlon reported the following for June In Its perlodic Inventory records.
Description
Beginning
11 Purchase
24 Purchase
Units
12
Date
Unit Cost
Total Cost
பone
38
6.
342
20
11
220
24
autpu306
Requlred:
1. Calculate the cost of ending Inventory and the cost of goods sold under the (a) FIFO and (b) welghted average cost methods.
not round your Intermediate calculations. Round "Welghted Averege Cost" to 2 decimal places.)
Cost of Ending
Inventory
Cost of Goods
Sold
FIFO
256
S.
402
Weighted average cos
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