191. A company uses the inventory system, and the following information is available. All purchases and sales are on credit. The selling price for the merchandise is $11 per unit. Units ...





191. A company uses the inventory system, and the following information is available. All purchases and sales are on credit. The selling price for the merchandise is $11 per unit.




















































































Units




Unit



Cost



$3




Total



Cost



$ 90




6/01




Inventory Balance...................




30




6/06




Purchase.........................




70




4




280




6/11




Purchase.........................




45




5




225




6/16




Purchase.........................




50




6




300







Goods available.....................




195







$895




6/12




Sale.............................




100










6/20




Sale.............................




60













Goods sold........................




160










6/31




Inventory Balance...................




35













Required:Determine the cost of the ending inventory and the cost of goods sold for June using the LIFO method.





192. A company made the following merchandise purchases and sales during the month of May:





































May 1




Purchased




380 units at




$15 each




May 5




Purchased




270 units at




$17 each




May 10




Sold




400 units at




$50 each




May 20




Purchased




300 units at




$22 each




May 25




Sold




400 units at




$50 each




There was no beginning inventory. If the company uses the weighted average periodic method, what would be the cost of the ending inventory?







193. A company made the following merchandise purchases and sales during the month of May:





































May 1




Purchased




380 units at




$15 each




May 5




Purchased




270 units at




$17 each




May 10




Sold




400 units at




$50 each




May 20




Purchased




300 units at




$22 each




May 25




Sold




400 units at




$50 each




There was no beginning inventory. If the company uses the LIFO periodic inventory method, what would be the cost of the ending inventory?











May 15, 2022
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