Content Area Alternative Inventory Methods Frate Company was formed on December 1, 2015, and uses the periodic inventory system. The following information is available from Frate's inventory records for Product Ply: January 1, 2016 (beginning inventory) Purchases: January 6, 2016 January 25, 2016 February 17, 2016 March 27, 2016 Units Unit Cost 800 $ 9.00 1,500 10.00 1,200 10.50 600 11.00 900 11.50 A physical inventory on March 31, 2016 shows 1,600 units on hand. Required: For each method, enter your answers in chronological order. Question Content Area Prepare schedules to compute the ending inventory at March 31, 2016, under each of the following inventory methods: 1. FIFO FRATE COMPANY Computation of Inventory for Product Ply Under FIFO Inventory Method March 31, 2016 Units Unit cost Total cost March 31, 2016 inventory Question Content Area 2. LIFO $ FRATE COMPANY Computation of Inventory for Product Ply Under LIFO Inventory Method March 31, 2016 Units Unit cost Total cost $ March 31, 2016 inventory Question Content Area 3. Weighted average (For the weighted average method, round the average cost per unit to two decimal places.) FRATE COMPANY Computation of Inventory for Product Ply Under Weighted Average Inventory Method March 31, 2016 Beginning inventory January 6, 2016 January 25, 2016 February 17, 2016 March 27, 2016 Total Weighted average cost March 31, 2016 inventory Units Unit cost Total cost