Alternative Inventory Methods

Frate Company was formed on December 1, 2018, and uses the periodic inventory system. The following information is available from Frate's inventory records for Product Ply:

	Units			Unit Cost
January 1, 2019 (beginning inventory)	2,200			$12.00
Purchases:
January 6, 2019	2,900			13.00
January 25, 2019	2,600			13.50
February 17, 2019	2,000			14.00
March 27, 2019	2,300			14.50

A physical inventory on March 31, 2019, shows 4,400 units on hand.

Required:

Prepare schedules to compute the ending inventory at March 31, 2019, under each of the following inventory methods. 1. FIFO

FRATE COMPANY
Computation of Inventory Under FIFO Inventory Method
March 31, 2019
	Units	Unit cost	Total cost
March 27, 2019	fill in the blank b39de7ffc02b061_1	$fill in the blank b39de7ffc02b061_2	$fill in the blank b39de7ffc02b061_3
February 17, 2019	fill in the blank b39de7ffc02b061_4	fill in the blank b39de7ffc02b061_5	fill in the blank b39de7ffc02b061_6
January 25, 2019 (portion)	fill in the blank b39de7ffc02b061_7	fill in the blank b39de7ffc02b061_8	fill in the blank b39de7ffc02b061_9
March 31, 2019 inventory	fill in the blank b39de7ffc02b061_10		$fill in the blank b39de7ffc02b061_11

2. LIFO

FRATE COMPANY
Computation of Inventory Under LIFO Inventory Method
March 31, 2019
	Units	Unit cost	Total cost
Beginning inventory	fill in the blank ba6f7bfadffafc2_1	$fill in the blank ba6f7bfadffafc2_2	$fill in the blank ba6f7bfadffafc2_3
January 6, 2019 (portion)	fill in the blank ba6f7bfadffafc2_4	fill in the blank ba6f7bfadffafc2_5	fill in the blank ba6f7bfadffafc2_6
March 31, 2019 inventory	fill in the blank ba6f7bfadffafc2_7		$fill in the blank ba6f7bfadffafc2_8

3. Weighted average

FRATE COMPANY
Computation of Inventory Under Weighted Average Inventory Method
March 31, 2019
	Units	Unit cost	Total cost
Beginning inventory	fill in the blank cbe126f7efd406d_1	$fill in the blank cbe126f7efd406d_2	$fill in the blank cbe126f7efd406d_3
January 6, 2019	fill in the blank cbe126f7efd406d_4	fill in the blank cbe126f7efd406d_5	fill in the blank cbe126f7efd406d_6
January 25, 2019	fill in the blank cbe126f7efd406d_7	fill in the blank cbe126f7efd406d_8	fill in the blank cbe126f7efd406d_9
February 17, 2019	fill in the blank cbe126f7efd406d_10	fill in the blank cbe126f7efd406d_11	fill in the blank cbe126f7efd406d_12
March 27, 2019	fill in the blank cbe126f7efd406d_13	fill in the blank cbe126f7efd406d_14	fill in the blank cbe126f7efd406d_15
Total	fill in the blank cbe126f7efd406d_16		$fill in the blank cbe126f7efd406d_17
Weighted average cost		$fill in the blank cbe126f7efd406d_18
March 31, 2019 inventory	fill in the blank cbe126f7efd406d_19	$fill in the blank cbe126f7efd406d_20	$fill in the blank cbe126f7efd406d_21