Given the following information, determine the cost of ending inventory at December 31: December 2: 5 units were purchased at $7 per unit. December 9: 10 units were purchased at $9.40 per unit. December 11: 12 units were sold at $35 per unit December 15: 20 units were purchased at $10.15 per unit December 22: 18 units were sold at $35 per unit Use the above information for parts a, b and c. A. Use the LIFO , Last In First Out, inventory flow and perpetual inventory method to value the ending inventory. SHOW YOUR WORK B. Use the FIFO, First In First Out, inventory flow and perpetual inventory method to value the ending inventory. SHOW YOUR WORK C.Use the weighted average inventory flow and perpetual inventory method to value the ending inventory. SHOW YOUR WORK
Given the following information, determine the cost of ending inventory at December 31:
December 2: 5 units were purchased at $7 per unit.
December 9: 10 units were purchased at $9.40 per unit.
December 11: 12 units were sold at $35 per unit
December 15: 20 units were purchased at $10.15 per unit
December 22: 18 units were sold at $35 per unit
Use the above information for parts a, b and c.
A. Use the LIFO , Last In First Out, inventory flow and perpetual inventory method to value the ending inventory. SHOW YOUR WORK
B. Use the FIFO, First In First Out, inventory flow and perpetual inventory method to value the ending inventory. SHOW YOUR WORK
C.Use the weighted average inventory flow and perpetual inventory method to value the ending inventory. SHOW YOUR WORK
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