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Calculate the ending inventory dollar value for each of the following cost allocation methods, using periodic inventory updating. Provide your calculations. first-in, first-out (FIFO) last-in,
Calculate the ending inventory dollar value for each of the following cost allocation methods, using periodic inventory updating. Provide your calculations.
- first-in, first-out (FIFO)
- last-in, first-out (LIFO)
- weighted average (AVG)
\begin{tabular}{|lcc|} \hline & \begin{tabular}{c} Number of \\ Units \end{tabular} & \begin{tabular}{c} Cost per \\ Unit \end{tabular} \\ Beginning inventory & 880 & $35 \\ Purchased Jun. 1 & 750 & 40 \\ Purchased Nov. 1 & 800 & 43 \\ Ending inventory & 110 & ? \\ \hline \end{tabular}
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