Mills Company was formed on December 1, 2018. The following information is available from Mills' inventory records

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Mills Company was formed on December 1, 2018. The following information is available from Mills' inventory records for Product Zone.

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A physical inventory on March 31, 2019, shows 1,500 units on hand.
Instructions
Assuming Mills uses a periodic system, prepare schedules to compute the ending inventory at March 31, 2019, under each of the following inventory methods (round to two decimal places).
a. FIFO.
b. LIFO.
c. Weighted-average.
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Related Book For  book-img-for-question

Intermediate Accounting IFRS

ISBN: 978-1119372936

3rd edition

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

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