La Boca Restaurant made the following purchases of chardonnay wine: # of Cases Price/Case Total Cost $ 1,200 1,525 1,890 d 1,728 YalM 2,345 yeM 1,360 21 ya10,048 On December 31, La Boca had an inventory of twenty-five cases of chardonnay wine. Beginning Inventory Jan. 1: 20dor March 10 June 20 Aug. 29 Oct. 10 $60 61 Begin Pun 25 m n e 30 27 35 63 adin 64 0t 67 E68 se Dec. 1 20 Available for sale 157 Required: Calculate the value of the ending inventory of twenty-five cases under weighted average, LIFO, and FIFO.

La Boca Restaurant made the following purchases of chardonnay wine: # of Cases Price/Case Total Cost $ 1,200 1,525 1,890 d 1,728 YalM 2,345 yeM 1,360 21 ya10,048 On December 31, La Boca had an inventory of twenty-five cases of chardonnay wine. Beginning Inventory Jan. 1: 20dor March 10 June 20 Aug. 29 Oct. 10 $60 61 Begin Pun 25 m n e 30 27 35 63 adin 64 0t 67 E68 se Dec. 1 20 Available for sale 157 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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