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Culver Company was formed on December 1, 2016. The following information is available from Culvers inventory records for Product BAP. Units Unit Cost January 1,

Culver Company was formed on December 1, 2016. The following information is available from Culvers inventory records for Product BAP.

Units

Unit Cost

January 1, 2017 (beginning inventory) 660 $ 9.00
Purchases:
January 5, 2017 1,320 10.00
January 25, 2017 1,430 11.00
February 16, 2017 880 12.00
March 26, 2017 660 13.00
A physical inventory on March 31, 2017, shows 1,760 units on hand.
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Prepare schedule to compute the ending inventory at March 31, 2017, under FIFO inventory method.

CULVER COMPANY COMPUTATION OF INVENTORY FOR PRODUCT BAP UNDER FIFO INVENTORY METHOD March 31, 2017

Units

Unit Cost

Total Cost

image text in transcribed Beginning InventoryEnding InventoryPurchases January 5, 2017Purchases January 25, 2017Purchases February 16, 2017Purchases March 26, 2017

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$

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$

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image text in transcribed Beginning InventoryEnding InventoryPurchases January 5, 2017Purchases January 25, 2017Purchases February 16, 2017Purchases March 26, 2017

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image text in transcribed Beginning InventoryEnding InventoryPurchases January 5, 2017Purchases January 25, 2017Purchases February 16, 2017Purchases March 26, 2017

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image text in transcribed Beginning InventoryEnding InventoryPurchases January 5, 2017Purchases January 25, 2017Purchases February 16, 2017Purchases March 26, 2017

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$

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