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Compute the cost to be assigned to ending inventory for each of the methods indicated given the following information about purchases and sales during the
Compute the cost to be assigned to ending inventory for each of the methods indicated given the following information about purchases and sales during the year. (Do not round intermediate calculations. Round final answers to O decimal places, e.g. 2,520.) January 1 = May 1 Beginning Inventory Purchases Total Available Total Sales 145 items @ $3 445 items @ $7 590 items = $435 3,115 $3,550 425 items December 31 Ending Inventory 165 Cost assigned on an average-cost basis $ Cost assigned on a FIFO basis $ Costs assigned on a LIFO basis $
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