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Frate Company was formed on December 1, 2018, and uses the periodic inventory system. The following information is available from Frate's inventory records for Product
Frate Company was formed on December 1, 2018, and uses the periodic inventory system. The following information is available from Frate's inventory records for Product Ply: Units Unit Cost January 1, 2019 (beginning inventory) 1,800 $7.00 Purchases: January 6, 2019 2,500 8.00 January 25, 2019 2,200 8.50 February 17, 2019 1,600 9.00 March 27, 2019 1,900 9.50 A physical inventory on March 31, 2019, shows 3,600 units on hand. Required: Question Content Area Prepare schedules to compute the ending inventory at March 31, 2019, under each of the following inventory methods. 1. FIFO FRATE COMPANY Computation of Inventory Under FIFO Inventory Method March 31, 2019 Units Unit cost Total cost March 27, 2019 fill in the blank 70658e03c044fcf_1 1,900 $fill in the blank 70658e03c044fcf_2 $fill in the blank 70658e03c044fcf_3 February 17, 2019 fill in the blank 70658e03c044fcf_4 fill in the blank 70658e03c044fcf_5 fill in the blank 70658e03c044fcf_6 January 25, 2019 (portion) fill in the blank 70658e03c044fcf_7 fill in the blank 70658e03c044fcf_8 fill in the blank 70658e03c044fcf_9 March 31, 2019 inventory fill in the blank 70658e03c044fcf_10 $fill in the blank 70658e03c044fcf_11 Question Content Area 2. LIFO FRATE COMPANY Computation of Inventory Under LIFO Inventory Method March 31, 2019 Units Unit cost Total cost Beginning inventory fill in the blank c0d6ab00b01706f_1 $fill in the blank c0d6ab00b01706f_2 $fill in the blank c0d6ab00b01706f_3 January 6, 2019 (portion) fill in the blank c0d6ab00b01706f_4 fill in the blank c0d6ab00b01706f_5 fill in the blank c0d6ab00b01706f_6 March 31, 2019 inventory fill in the blank c0d6ab00b01706f_7 $fill in the blank c0d6ab00b01706f_8 Question Content Area 3. Weighted average FRATE COMPANY Computation of Inventory Under Weighted Average Inventory Method March 31, 2019 Units Unit cost Total cost Beginning inventory fill in the blank 5ec1f504bfa8068_1 $fill in the blank 5ec1f504bfa8068_2 $fill in the blank 5ec1f504bfa8068_3 January 6, 2019 fill in the blank 5ec1f504bfa8068_4 fill in the blank 5ec1f504bfa8068_5 fill in the blank 5ec1f504bfa8068_6 January 25, 2019 fill in the blank 5ec1f504bfa8068_7 fill in the blank 5ec1f504bfa8068_8 fill in the blank 5ec1f504bfa8068_9 February 17, 2019 fill in the blank 5ec1f504bfa8068_10 fill in the blank 5ec1f504bfa8068_11 fill in the blank 5ec1f504bfa8068_12 March 27, 2019 fill in the blank 5ec1f504bfa8068_13 fill in the blank 5ec1f504bfa8068_14 fill in the blank 5ec1f504bfa8068_15 Total fill in the blank 5ec1f504bfa8068_16 $fill in the blank 5ec1f504bfa8068_17 Weighted average cost $fill in the blank 5ec1f504bfa8068_18 March 31, 2019 inventory fill in the blank 5ec1f504bfa8068_19 $fill in the blank 5ec1f504bfa8068_20 $fill in the blank 5ec1f504bfa8068_21
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