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

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Flounder Company was formed on December 1, 2016. The following information is available from Flounder's inventory records for Product BAP. Units Unit Cost January 1, 2017 (beginning inventory) 672 $6.00 Purchases: 1,344 January 5, 2017 7.00 January 25, 2017 1,456 8.00 February 16, 2017 9.00 896 March 26, 2017 672 10.00 A physical inventory on March 31, 2017, shows 1,792 units on hand. (a) Prepare schedule to compute the ending inventory at March 31, 2017, under FIFO inventory method. FLOUNDER COMPANY COMPUTATION OF INVENTORY FOR PRODUCT BAP UNDER FIFO INVENTORY METHOD March 31, 2017 Units Unit Cost Total Cost $ $

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