Question
A company purchased a certain number of units for each particular month: Beginning Inventory 250 units $1.55 each June 470 units $1.65 each July 650
- A company purchased a certain number of units for each particular month:
| Beginning Inventory | 250 units | $1.55 each |
| June | 470 units | $1.65 each |
| July | 650 units | $1.20 each |
| August | 230 units | $1.25 each |
If there are 350 units left at the end of the year, then determine the inventory value using each method listed below:
- LIFO Method
- FIFO Method
- Weighted Average Method
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Auditors Guide To IT Auditing
Authors: Richard E. Cascarino
2nd Edition
1118147618, 978-1118147610
