Shania Twain Company was formed on December 1, 2013.
The following information is available from Twain€™s inventory records for Product BAP.

A physical inventory on March 31, 2014, shows 1,600 units on hand.

Instructions
Prepare schedules to compute the ending inventory at March 31, 2014, under each of the following inventory methods.
(a) FIFO.
(b) LIFO.
(c) Weighted-average (round unit costs to two decimalplaces).

Transcribed Image Text:

Units 600 Unit Cost $ 8.00 January 1, 2014 (beginning inventory) Purchases: January 5, 2014 January 25, 2014 February 16, 2014 March 26, 2014 1,200 1,300 800 600 9.00 10.00 11.00 12.00