Exercise B-19 Larkspur 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 $23 per unit. None of this inventory was sold in 2016. Relevant information is as follows. Ending inventory units December 31, 2016 165 December 31, 2017, by purchase date December 2, 2017 165 July 20, 2017 215 50 During the year 2017, the following purchases and sales were made. Purchases Sales April 10 365 units at $28 265 March 15 July 20 August 20 November 18 215 365 units at 29 365 September 4 265 units at December 2 165 units at 35 32 December 12 265 The company uses the periodic inventory method. Your answer is correct. Calculate average-cost per unit. (Round answer to 2 decimal places, e.e. 2.76.) Average-cost 29.32 Determine ending inventory under (1) specific identification, (2) FIFO, (3) LIFO, and (4) average-cost. (Round answers to 0 declmal places, e.g. 2,760.) Specific Identification FIFO LIFO Average-Cost Ending Inventory LINK TO TEXCT Your answer is incorrect. Try again. Calculate price index. (Round answer to 4 decimal places, e.g. 2.7653.) Price Index LINK TO TEXT Your answer is incorrect. Try again. Determine ending inventory using dollar-value LIFO. Assume that the December 2, 2017, purchase cost is the current cost of inventory. (Hint: The beginning inventory is the base layer priced at $23 per unit.) (Round answer to 0 decimal places, e.g. 2,760.) delias unlue 1TEO Your answer is incorrect. Try again. Calculate price index. (Round answer to 4 decimal places, e.g. 2.7653.) Price Index LINK TO TEXT X Your answer is incorrect. Try again. Determine ending inventory using dollar-value LIFO. Assume that the December 2, 2017, purchase cost is the current cost of inv inventory is the base layer priced at $23 per unit.) (Round answer to 0 decimal places, eg. 2,760.) Ending inventory at dollar-value LIFO LINK TO TEXT Exercise B-19 Larkspur 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 $23 per unit. None of this inventory was sold in 2016. Relevant information is as follows. Ending inventory units December 31, 2016 165 December 31, 2017, by purchase date December 2, 2017 165 July 20, 2017 215 50 During the year 2017, the following purchases and sales were made. Purchases Sales April 10 365 units at $28 265 March 15 July 20 August 20 November 18 215 365 units at 29 365 September 4 265 units at December 2 165 units at 35 32 December 12 265 The company uses the periodic inventory method. Your answer is correct. Calculate average-cost per unit. (Round answer to 2 decimal places, e.e. 2.76.) Average-cost 29.32 Determine ending inventory under (1) specific identification, (2) FIFO, (3) LIFO, and (4) average-cost. (Round answers to 0 declmal places, e.g. 2,760.) Specific Identification FIFO LIFO Average-Cost Ending Inventory LINK TO TEXCT Your answer is incorrect. Try again. Calculate price index. (Round answer to 4 decimal places, e.g. 2.7653.) Price Index LINK TO TEXT Your answer is incorrect. Try again. Determine ending inventory using dollar-value LIFO. Assume that the December 2, 2017, purchase cost is the current cost of inventory. (Hint: The beginning inventory is the base layer priced at $23 per unit.) (Round answer to 0 decimal places, e.g. 2,760.) delias unlue 1TEO Your answer is incorrect. Try again. Calculate price index. (Round answer to 4 decimal places, e.g. 2.7653.) Price Index LINK TO TEXT X Your answer is incorrect. Try again. Determine ending inventory using dollar-value LIFO. Assume that the December 2, 2017, purchase cost is the current cost of inv inventory is the base layer priced at $23 per unit.) (Round answer to 0 decimal places, eg. 2,760.) Ending inventory at dollar-value LIFO LINK TO TEXT
