Vaughn Company reports the following for the month of June.
Units Unit Cost Total Cost
June 1 Inventory 300 $7 $2,100
12 Purchase 420 8 3.360
23 Purchase 310 9 2,790
30 Inventory 140
(a)
Compute the cost of the ending inventory and the cost of goods sold under FIFO and LIFO.
FIFO LIFO
Cost of the ending inventory $ $
Cost of goods sold $ $
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