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Information about Spiceland Companys inventory of one item follows. Explanation Number of Units Unit Cost Beginning inventory, January 1 230 $ 365 Purchases: April 270
Information about Spiceland Companys inventory of one item follows.
Explanation | Number of Units | Unit Cost | |||||
Beginning inventory, January 1 | 230 | $ | 365 | ||||
Purchases: | |||||||
April | 270 | 370 | |||||
August | 190 | 375 | |||||
October | 240 | 377 | |||||
Ending inventory, December 31 | 230 | ||||||
- Compute the cost of the ending inventory under the average cost method.
- Compute the cost of the ending inventory under the FIFO method.
- Compute the cost of the ending inventory under the LIFO method.
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