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 3,200 $11.00 January 1, 2019 (beginning inventory) Purchases: 12.00 January 6, 2019 January 25, 2019 February 17, 2019 3,900 3,600 3,000 12.50 13.00 March 27, 2019 3,300 13.50 A physical inventory on March 31, 2019, shows 6,400 units on hand. 1. FIFO FRATE COMPANY Computation of Inventory Under FIFO Inventory Method March 31, 2019 Unit Total Units cost cost March 27, 2019 February 17, 2019 January 25, 2019 (portion) 6,400 March 31, 2019 inventory Feedback 2. LIFO FRATE COMPANY Computation of Inventory Under LIFO Inventory Method March 31, 2019 Unit Units Total cost Beginning inventory January 6, 2019 (portion) cost March 31, 2019 inventory 6,400 Feedback 3. Weighted average FRATE COMPANY Computation of Inventory Under Weighted Average Inventory Method March 31, 2019 Unit Total Units cost cost Beginning inventory January 6, 2019 January 25, 2019 February 17, 2019 March 27, 2019 Total Weighted average cost March 31, 2019 inventory 6,400 >