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Calculate the ending inventory at May 31 using the FIFO, LIFO and average-cost methods. (Round answers to 0 decimal places, eg. 125.) The ending inventory at May 31 FIFO LIFO AVERAGE-COST

Calculate the ending inventory at May 31 using the FIFO, LIFO and average-cost methods. (Round answers to 0 decimal places, eg. 125.) The ending inventory at May 31 FIFO LIFO AVERAGE-COST

FINANCIAL ACCOUNTING
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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Calculate the ending inventory at May 31 using the FIFO, LIFO and average-cost methods. (Round answers to 0 decimal places, eg. 125.) The ending inventory at May 31 FIFO LIFO AVERAGE-COST
Transcribed Image Text:Calculate the ending inventory at May 31 using the FIFO, LIFO and average-cost methods. (Round answers to 0 decimal places, eg. 125.) The ending inventory at May 31 FIFO LIFO AVERAGE-COST
Ayayai Corp. uses a periodic inventory system. Its records show the following for the month of May, in which 69 units were sold. Date May 1 15 24 Explanation Inventory Purchase Purchase Total Units 32 25 43 100 Unit Cost $8 9 10 Total Cost $256 225 430 $911 Calculate the weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125) Weighted-average unit cost $
Transcribed Image Text:Ayayai Corp. uses a periodic inventory system. Its records show the following for the month of May, in which 69 units were sold. Date May 1 15 24 Explanation Inventory Purchase Purchase Total Units 32 25 43 100 Unit Cost $8 9 10 Total Cost $256 225 430 $911 Calculate the weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125) Weighted-average unit cost $
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