Question
Baxter Company purchased items of inventory as follows: June 3 100 units @ $3.05 June 10 150 units @ $3.10 June 15 120 units @
Baxter Company purchased items of inventory as follows:
June 3 100 units @ $3.05
June 10 150 units @ $3.10
June 15 120 units @ $3.15
By the end of the month, Baxter had sold 125 units.
- If the company uses the average-cost method for inventory, what is the Quantity & amount of the ending inventory?
- If the company uses the FIFO method for Inventory, what is the Quantity & amount of the ending inventory?
- If the company uses the LIFO method for Inventory, what is the Quantity & amount of the ending inventory
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Financial and Managerial Accounting the basis for business decisions
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
16th edition
0077664078, 978-0077664077, 78111048, 978-0078111044
