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The units of Manganese Plus available for sale during the year were as follows: Mar. 1 Inventory June 16 Purchase Nov. 28 Purchase 23 units @ $31 $713 28 units @ $35 980 37 units @ $36 1,332 88 units $3,025 3 There are 13 units of the product in the physical inventory at November 30. The periodic inventory system is used. a. Determine the inventory cost using the FIFO method. = 田 c. Determine the inventory cost using the weighted average cost methods. Round interim calculations and final answer to two decimal places. b. Determine the inventory cost using the LIFO method.

The units of Manganese Plus available for sale during the year were as follows: Mar. 1 Inventory June 16 Purchase Nov. 28 Purchase 23 units @ $31 $713 28 units @ $35 980 37 units @ $36 1,332 88 units $3,025 3 There are 13 units of the product in the physical inventory at November 30. The periodic inventory system is used. a. Determine the inventory cost using the FIFO method. = 田 c. Determine the inventory cost using the weighted average cost methods. Round interim calculations and final answer to two decimal places. b. Determine the inventory cost using the LIFO method.

FINANCIAL ACCOUNTING
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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The units of Manganese Plus available for sale during the year were as follows: Mar. 1 Inventory June 16 Purchase Nov. 28 Purchase 23 units @ $31 $713 28 units @ $35 980 37 units @ $36 1,332 88 units $3,025 3 There are 13 units of the product in the physical inventory at November 30. The periodic inventory system is used. a. Determine the inventory cost using the FIFO method. = 田 c. Determine the inventory cost using the weighted average cost methods. Round interim calculations and final answer to two decimal places. b. Determine the inventory cost using the LIFO method.
Transcribed Image Text:The units of Manganese Plus available for sale during the year were as follows: Mar. 1 Inventory June 16 Purchase Nov. 28 Purchase 23 units @ $31 $713 28 units @ $35 980 37 units @ $36 1,332 88 units $3,025 3 There are 13 units of the product in the physical inventory at November 30. The periodic inventory system is used. a. Determine the inventory cost using the FIFO method. = 田 c. Determine the inventory cost using the weighted average cost methods. Round interim calculations and final answer to two decimal places. b. Determine the inventory cost using the LIFO method.
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