Question

Swifty Corporation uses a periodic inventory system and reports the following for the month of June.

Date		Explanation		Units			Unit Cost			Total Cost
June 1		Inventory		140			$5			$ 700
12		Purchase		390			6			2,340
23		Purchase		190			7			1,330
30		Inventory		193

a)
Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost. (Round per unit cost to 3 decimal places, e.g. 15.647 and final answers to 0 decimal places, e.g. 5,125.)

		FIFO		LIFO		Average-cost
Cost of the ending inventory		$enter the cost of ending inventory as per FIFO in dollars		$enter the cost of ending inventory as per LIFO in dollars		$enter the cost of ending inventory as per Average-cost in dollars
Cost of goods sold		$enter the cost of goods sold amount as per FIFO in dollars		$enter the cost of goods sold amount as per LIFO in dollars		$enter the cost of goods sold amount as per Average-cost in dollars

Answer 1