012 Problem 14 La Boca Restaurant made the following purchases of chardonnay wine: abnd 000 82 Total Cost #of Cases Price/Case Beginning Inventory Jan. 1: March 10 20 $60 $1,200 1,525 1,890 1,728 2,345 1,360 10,048 25 61 June 20 30 63 Aug. 29 Oct. 10 27 64 35 67 Dec. 1 20 68 Available for sale 157 On December 31, La Boca had an inventory of twenty-five cases of chardonnay wine. Required: Calculate the value of the ending inventory of twenty-five cases under weighted average, LIFO, and FIFO.

012 Problem 14 La Boca Restaurant made the following purchases of chardonnay wine: abnd 000 82 Total Cost #of Cases Price/Case Beginning Inventory Jan. 1: March 10 20 $60 $1,200 1,525 1,890 1,728 2,345 1,360 10,048 25 61 June 20 30 63 Aug. 29 Oct. 10 27 64 35 67 Dec. 1 20 68 Available for sale 157 On December 31, La Boca had an inventory of twenty-five cases of chardonnay wine. Required: Calculate the value of the ending inventory of twenty-five cases under weighted average, LIFO, and FIFO.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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