College Accounting (Book Only): A Career Approach
13th Edition
ISBN: 9781337280570
Author: Scott, Cathy J.
Publisher: South-Western College Pub
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Chapter C, Problem 3P
Use the information presented in Problem C-1 to solve this problem.
Required
Find the cost of the ending inventory by the last-in, first-out method.
PROBLEM C-1 Bean Nursery sells bark to its customers at retail. Bean buys bark from a plywood mill in bulk and transports the bark in its own trucks. Information relating to the beginning inventory and purchases of bark is as follows:
Required
Find the cost of 1,200 cubic yards in the ending inventory by the weighted-average-cost method. Carry average cost per cubic yard to four decimals.
Check Figure
Cost of ending inventory, $480
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