brief exercises accounting principles 12th answers

BE6-3 In its first month of operations, Bethke Company made three purchases of mer chandise in the following sequence: (1) 300 units at $6, (2) 400 units at $7, and (3) 200 units at $8. Assuming there are 360 units on hand, compute the cost of the ending inventory under the (a) FIFO method and (b) LIFO method. Bethke uses a periodic inventory system to be included in taking entory BE6.1 (LO 1) Peosta Company identifies the following items for possible inclusion in the taking of a physical inventory. Indicate whether each item should be included or excluded from the inventory taking. a. Goods shipped on consignment by Peosta to another company. b. Goods in transit from a supplier shipped FOB destination c. Goods held on consignment from another company