Calculate the cost of ending inventory and the cost of

Question

Situation D: BrightStar Company reported the following inventory records for June, 2012:

June 1	Beginning balance	200	$40
June 5	Purchase	600	$42
June 8	Sale @ $100 per unit	500
June 17	Purchase	400	$45
June 23	Sale @ $100 per unit	500

Selling, administrative, and depreciation expenses for the month were $20,000. BrightStar's tax rate is 35 percent. Use this information and the table above to complete the following:

1. Calculate the cost of ending inventory and the cost of goods sold under each of the following methods:
   1. First-in, first-out.
   2. Last-in, first-out.
   3. Weighted average.