Exercise 8-19 Riverbed Corporation began operations on December 1, 2016. The only inventory transaction in 2016 was the purchase of inventory on December 10, 2016, at a cost of $24 per unit. None of this inventory was sold in 2016. Relevant information is as follows. Ending inventory units 195 December 31, 2016 December 31, 2017, by purchase date December 2, 2017 195 July 20, 2017 50 245 During the year 2017, the following purchases and sales were made. Purchases Sales March 15 395 unis at $29 Apri 10 uly 20 September 4 295 units at 34 November 18 245 December 2 195 units at 37 December 12 295 295 395 units at 3 August 20 395 The company uses the periodic inventory method. Calculate average-cost per unit. (Round answer to 2 decimal places, e.e. 2.76.) Average-cost s Determine ending Inventory under (1) specific identif cation, (2) FIFO, (3) LIFO, and (4) average-cost. (Round answers to 0 decimal places, e.g. 2,760.) FIFO LIFO Ending Inventory Calculate price index. (Round answer to 4 decimal places, e.g. 2.7653.) Price Index Determine ending Inventory using dol lar-value LIFO. Assume that the December 2, 2017, purchase cost is the current cost of Inventory. (int: The beginning inventory is the base layer priced at $24 per unit.) (Round answer to 0 decimal places,e.g. 2,760.) Ending inventory at do lar-value LIFO Exercise 8-19 Riverbed Corporation began operations on December 1, 2016. The only inventory transaction in 2016 was the purchase of inventory on December 10, 2016, at a cost of $24 per unit. None of this inventory was sold in 2016. Relevant information is as follows. Ending inventory units 195 December 31, 2016 December 31, 2017, by purchase date December 2, 2017 195 July 20, 2017 50 245 During the year 2017, the following purchases and sales were made. Purchases Sales March 15 395 unis at $29 Apri 10 uly 20 September 4 295 units at 34 November 18 245 December 2 195 units at 37 December 12 295 295 395 units at 3 August 20 395 The company uses the periodic inventory method. Calculate average-cost per unit. (Round answer to 2 decimal places, e.e. 2.76.) Average-cost s Determine ending Inventory under (1) specific identif cation, (2) FIFO, (3) LIFO, and (4) average-cost. (Round answers to 0 decimal places, e.g. 2,760.) FIFO LIFO Ending Inventory Calculate price index. (Round answer to 4 decimal places, e.g. 2.7653.) Price Index Determine ending Inventory using dol lar-value LIFO. Assume that the December 2, 2017, purchase cost is the current cost of Inventory. (int: The beginning inventory is the base layer priced at $24 per unit.) (Round answer to 0 decimal places,e.g. 2,760.) Ending inventory at do lar-value LIFO
