Number of Units Cost per Unit $10 Beginning inventory Purchased Mar. 31 Purchased Oct. 15 Ending inventory 150 160 12 130 15 50
Number of Units Cost per Unit $10 Beginning inventory Purchased Mar. 31 Purchased Oct. 15 Ending inventory 150 160 12 130 15 50
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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- FLCL Company had the following transactions for the month:
Calculate the ending inventory dollar value for the period for each of the following cost allocation methods, using periodic inventory updating. Provide your calculations.
- first-in, first-out (FIFO)
- last-in, first-out (LIFO)
- weighted average
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