Wildhorse Company was formed in 2016 and maintains its books and records on calendar-year basis. The following information is available from Wildhorse’s inventory records for Zhao’s only product, the XL5500.     Units   Unit Cost January 1, 2017 (beginning inventory)   1,000   $77 Purchases            January 8, 2017   300   78    January 23, 2017   1,100   78.25    February 9, 2017   400   82    February 25, 2017   750   84 A physical inventory on February 28, 2017, shows 1,250 units on hand. Prepare schedule to compute the ending inventory at February 28, 2017, under FIFO inventory method. (Round unit costs to 2 decimal places, e.g. 5.25 and final answers to 0 decimal places, e.g. 5,272.) WILDHORSE Company COMPUTATION OF INVENTORY FOR PRODUCT XL5500 UNDER FIFO INVENTORY METHOD choose the accounting period                                                                            Units   Unit Cost   Total Cost select an opening name                                                                          enter a dollar amount   $enter a dollar amount    $enter a dollar amount  select an item                                                                          enter a dollar amount   enter a dollar amount   enter a dollar amount select an item                                                                          enter a dollar amount   enter a dollar amount   enter a dollar amount select a closing name                                                                          enter a total amount       $enter a total amount

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Wildhorse Company was formed in 2016 and maintains its books and records on calendar-year basis. The following information is available from Wildhorse’s inventory records for Zhao’s only product, the XL5500.

   
Units
 
Unit Cost
January 1, 2017 (beginning inventory)   1,000   $77
Purchases        
   January 8, 2017   300   78
   January 23, 2017   1,100   78.25
   February 9, 2017   400   82
   February 25, 2017   750   84


A physical inventory on February 28, 2017, shows 1,250 units on hand.

Prepare schedule to compute the ending inventory at February 28, 2017, under FIFO inventory method. (Round unit costs to 2 decimal places, e.g. 5.25 and final answers to 0 decimal places, e.g. 5,272.)

WILDHORSE Company
COMPUTATION OF INVENTORY FOR PRODUCT

XL5500 UNDER FIFO INVENTORY METHOD
choose the accounting period                                                                       
   
Units
 
Unit Cost
 
Total Cost
select an opening name                                                                          enter a dollar amount   $enter a dollar amount    $enter a dollar amount 
select an item                                                                          enter a dollar amount   enter a dollar amount   enter a dollar amount
select an item                                                                          enter a dollar amount   enter a dollar amount   enter a dollar amount
select a closing name                                                                          enter a total amount       $enter a total amount 
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