If Comcast is upgrading its cable boxes and has 500 obsolete boxes in ending inventory. Beginning inventory and purchases Boxes Box Cost Total Cost Beginning inventory: January 1 15,500 $ 15 $ 232,500 March 1 6,500 16 104,000 June 1 2,500 20 50,000 September 1 1,500 23 34,500 December 1 1,000 32 32,000 27,000 $ 453,000 What is the cost of ending inventory using FIFO, LIFO, and the weighted average method? (Round your intermediate calculations to 2 decimal places and final answers to the nearest dollar amount.) Ending inventory FIFO LIFO Weighted average
If Comcast is upgrading its cable boxes and has 500 obsolete boxes in ending inventory. Beginning inventory and purchases Boxes Box Cost Total Cost Beginning inventory: January 1 15,500 $ 15 $ 232,500 March 1 6,500 16 104,000 June 1 2,500 20 50,000 September 1 1,500 23 34,500 December 1 1,000 32 32,000 27,000 $ 453,000 What is the cost of ending inventory using FIFO, LIFO, and the weighted average method? (Round your intermediate calculations to 2 decimal places and final answers to the nearest dollar amount.) Ending inventory FIFO LIFO Weighted average
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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If Comcast is upgrading its cable boxes and has 500 obsolete boxes in ending inventory.
| Beginning inventory and purchases | Boxes | Box Cost | Total Cost | ||
| Beginning inventory: January 1 | 15,500 | $ | 15 | $ | 232,500 |
| March 1 | 6,500 | 16 | 104,000 | ||
| June 1 | 2,500 | 20 | 50,000 | ||
| September 1 | 1,500 | 23 | 34,500 | ||
| December 1 | 1,000 | 32 | 32,000 | ||
| 27,000 | $ | 453,000 | |||
What is the cost of ending inventory using FIFO, LIFO, and the weighted average method? (Round your intermediate calculations to 2 decimal places and final answers to the nearest dollar amount.)
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