Exercise 6-6 (Part Level Submission)
Kaleta Company uses a periodic system reports the following for the month of June.
Units
Unit
Cost
Total Cost
June 1 Inventory
280
$5
$ 1,400
12 Purchase
560
8
4,480
23
Purchase
420
11
4,620
30
Inventory 140
(a)
Compute the cost of the ending inventory and the cost of goods sold under FIFO and LIFO.
FIFO
Cost of the ending inventory
$
Cost of goods sold
$
LIFO
$
$
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