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

Transcribed Image Text:### Inventory Data Overview
#### Inventory Details:
- **Beginning Inventory:**
- **Number of Units:** 150
- **Cost per Unit:** $10
- **Purchased on March 31:**
- **Number of Units:** 160
- **Cost per Unit:** $12
- **Purchased on October 15:**
- **Number of Units:** 130
- **Cost per Unit:** $15
- **Ending Inventory:**
- **Number of Units:** 50
- **Cost per Unit:** ?
This table outlines the inventory movement and associated costs over a specific period. It begins with an initial stock level and details two separate purchase events throughout the year, each with distinct costs per unit. The ending inventory figure represents a smaller quantity remaining at the period's conclusion, with the cost per unit yet to be determined.
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