Question
Carla Vista Company was formed in 2016 and maintains its books and records on calendar-year basis. The following information is available from Carla Vistas inventory
Carla Vista Company was formed in 2016 and maintains its books and records on calendar-year basis. The following information is available from Carla Vistas inventory records for Zhaos only product, the XL5500.
Units | Unit Cost | |||
January 1, 2017 (beginning inventory) | 1,000 | $ 77.00 | ||
Purchases | ||||
January 8, 2017 | 450 | 78.00 | ||
January 23, 2017 | 1,100 | 78.25 | ||
February 9, 2017 | 400 | 82.00 | ||
February 25, 2017 | 700 | 84.00 |
A physical inventory on February 28, 2017, shows 1,300 units on hand.
Prepare schedule to compute the ending inventory at February 28, 2017, under FIFO inventory method. (Round unit costs to 2 decimal places, e.g. 5.25 and final answers to 0 decimal places, e.g. 5,272.)
CARLA VISTA Company COMPUTATION OF INVENTORY FOR PRODUCT XL5500 UNDER FIFO INVENTORY METHOD choose the accounting periodchoose the accounting period For the Quarter Ended February 28, 2017For the Year Ended February 28, 2017February 28, 2017 | ||||||
Units | Unit Cost | Total Cost | ||||
select an opening nameselect an opening name Beginning InventoryPurchases January 8, 2017Purchases January 23, 2017Purchases February 9, 2017Purchases February 25, 2017February 28, 2017, Inventory | enter a dollar amount | $ enter a dollar amount | $ enter a dollar amount | |||
select an itemselect an item Beginning InventoryPurchases January 8, 2017Purchases January 23, 2017Purchases February 9, 2017Purchases February 25, 2017February 28, 2017, Inventory | enter a dollar amount | enter a dollar amount | enter a dollar amount | |||
select an itemselect an item Beginning InventoryPurchases January 8, 2017Purchases January 23, 2017Purchases February 9, 2017Purchases February 25, 2017February 28, 2017, Inventory | enter a dollar amount | enter a dollar amount | enter a dollar amount | |||
select a closing nameselect a closing name Beginning InventoryPurchases January 8, 2017Purchases January 23, 2017Purchases February 9, 2017Purchases February 25, 2017February 28, 2017, Inventory | enter a total amount | $ enter a total amount |
Prepare schedule to compute the ending inventory at February 28, 2017, under LIFO inventory method. (Round unit costs to 2 decimal places, e.g. 5.25 and final answers to 0 decimal places, e.g. 5,272.)
CARLA VISTA Company COMPUTATION OF INVENTORY FOR PRODUCT XL5500 UNDER LIFO INVENTORY METHOD choose the accounting periodchoose the accounting period For the Year Ended February 28, 2017February 28, 2017For the Quarter Ended February 28, 2017 | ||||||
Units | Unit Cost | Total Cost | ||||
select an opening nameselect an opening name Beginning InventoryPurchases January 8, 2017Purchases January 23, 2017Purchases February 9, 2017Purchases February 25, 2017February 28, 2017, Inventory | enter a dollar amount | $ enter a dollar amount | $ enter a dollar amount | |||
select an itemselect an item Beginning InventoryPurchases January 8, 2017Purchases January 23, 2017Purchases February 9, 2017Purchases February 25, 2017February 28, 2017, Inventory | enter a dollar amount | enter a dollar amount | enter a dollar amount | |||
select a closing nameselect a closing name Beginning InventoryPurchases January 8, 2017Purchases January 23, 2017Purchases February 9, 2017Purchases February 25, 2017February 28, 2017, Inventory | enter a total amount | $ enter a total amount |
Calculate weighted average-cost per unit. (Round answer to 2 decimal places, e.g. 2.76.)
Weighted average-cost per unit | $ enter the weighted average-cost per unit rounded to 2 decimal places |
Compute the ending inventory at February 28, 2017, under weighted-average inventory method. (Round answer to 0 decimal places, e.g. 2,760.)
Weighted-Average | ||
Ending Inventory at February 28, 2017 | $ enter a dollar amount rounded to 0 decimal places |
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