The following data regarding purchases and sales of a commodity were

The following data regarding purchases and sales of a commodity were taken from the related perpetual inventory account:

 

June 1    Balance    25 units at $60

        6    Sale    20 units

        8    Purchase  20 units at $61

      16    Sale   10 units

      20    Purchase  20 units at $62

      23    Sale  25 units

      30     Purchase  15 units at $63

 

 

 

Required:

 

1.  Calculate the Cost of Merchandise Sold and Ending Inventory using FIFO

 

2.  Calculate the Cost of Merchandise Sold and Ending Inventory using LIFO

 

3.  Calculate the Cost of Merchandise Sold and Ending Inventory using Weighted Average Method

 

 

 

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