Intermediate Accounting

E8-15 (FIFO, LIFO, Average-Cost Inventory) Shania Twain Company was formed on December 1 .. The following information is available from Twain's inventory records for Product BAP Units Unit Cost January 1, 2014 (beginning inventory) 600 $ 8.00 Purchases: January 5, 2014 1,200 9.00 January 25, 2014 1,300 10.00 February 16, 2014 800 11.00 March 26, 2014 600 12.00 A physical inventory on March 31, 2014, shows 1,600 units on hand. Instructions Prepare schedules to compute the ending inventory at March 31, 2014, under each of the following inven- tory methods. (a) FIFO. (b) LIFO. (c) Weighted-average (round unit costs to two decimal places)