Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 15 $80 $1,200 12 Purchase 45 82 3,690 19 Purchas 50 54 84 4,200 26 Purchase 20 85 1,700 Total 130 $10,790 Compute the ending inventory at September 30 using the FIFO, LIFO and average-cost methods.
Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 15 $80 $1,200 12 Purchase 45 82 3,690 19 Purchas 50 54 84 4,200 26 Purchase 20 85 1,700 Total 130 $10,790 Compute the ending inventory at September 30 using the FIFO, LIFO and average-cost methods.
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter6: Cost Of Goods Sold And Inventory
Section: Chapter Questions
Problem 41BE: ( Appendix 6B) Inventory Costing Methods: Periodic Inventory Systems. Refer to the information for...
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