Question
Beginning inventory 40 units at P80 First purchased 40 units at P82 Second purchased 60 units at P85 Third purchased 60 units at P87 Ending
| Beginning inventory | 40 units at P80 |
| First purchased | 40 units at P82 |
| Second purchased | 60 units at P85 |
| Third purchased | 60 units at P87 |
| Ending inventory | 50 units |
Company uses periodic inventory
Compute the cost assigned to ending inventory using FIFO method
Compute the cost assigned to ending inventory using the weighted average method
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Tips For The New Auditor
Authors: Marty Sturino
1st Edition
1733097813, 978-1733097819
