Westcoast Purveyors had 343 computer system in stock at the end of the year. Inventory records show the following information:*Chart Attached* A): Using the LIFO method of inventory pricing, calculate the dollar value of the ending inventory.$ B): Use the lower-of-cost-or-market rule to determine the value (in $) of the following inventory for Save-Mor Merchandisers.*Chart attached* Lse the lower-of-cost-or-market rue to determine the value (in $) of the following inventary for Save-Mor Merchandisers.Qty Cost Market Valuation BasisItemAmountRaincoats470$84$54-GelectBirdcages3156038-Gelect---Radios222--Belect- V4243Calculators3771714--Oelect-video GGames4674033-Belect-Total Value of Inventory Westcoast Purveyars had 343 computer system in stock at the end af the year. Inventary records shaw the following information:DateQtyCostTotal CostJanuary 1Beginning Inventory50 $1,398S69,900|June 21Purchase501,19259,100August 1Purchase300894268, 200October 23Purchase2001,146229,200November 16Purchase1001,494149,400Total available for sale700$775,800

Name: Westcoast Purveyors had 343 computer system in stock at the end of the
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Description: Westcoast Purveyors had 343 computer system in stock at the end of the year. Inventory records show the following information:*Chart Attached* A): Using the LIFO method of inventory pricing, calculate the dollar value of the ending inventory.$ B):

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FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Westcoast Purveyors had 343 computer system in stock at the end of the year. Inventory records show the following information:

*Chart Attached*

A): Using the LIFO method of inventory pricing, calculate the dollar value of the ending inventory.

B): Use the lower-of-cost-or-market rule to determine the value (in $) of the following inventory for Save-Mor Merchandisers.

*Chart attached*

Lse the lower-of-cost-or-market rue to determine the value (in $) of the following inventary for Save-Mor Merchandisers.
Qty Cost Market Valuation Basis
Item
Amount
Raincoats
470
$84
$54
-Gelect
Birdcages
315
60
38
-Gelect---
Radios
222
--Belect- V
42
43
Calculators
377
17
14
--Oelect-
video GGames
467
40
33
-Belect-
Total Value of Inventory

Westcoast Purveyars had 343 computer system in stock at the end af the year. Inventary records shaw the following information:
Date
Qty
Cost
Total Cost
January 1
Beginning Inventory
50 $1,398
S69,900
|June 21
Purchase
50
1,192
59,100
August 1
Purchase
300
894
268, 200
October 23
Purchase
200
1,146
229,200
November 16
Purchase
100
1,494
149,400
Total available for sale
700
$775,800

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