Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

If Comcast is upgrading its cable boxes and has 600 obsolete boxes in ending inventory. Beginning inventory and purchases Beginning inventory: January 1 March 1

image text in transcribed

If Comcast is upgrading its cable boxes and has 600 obsolete boxes in ending inventory. Beginning inventory and purchases Beginning inventory: January 1 March 1 June 1 September 1 December 1 Boxes 16,300 7,300 3,300 1,900 1,200 30,000 Box cost $ 23 24 28 31 40 Total cost $374,900 175,200 92,400 58,900 48,000 $749,400 What is the cost of ending inventory using FIFO, LIFO, and the weighted average method? (Round your intermediate calculations to 2 decimal places and final answers to the nearest dollar amount.) Ending inventory FIFO LIFO Weighted average

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions