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Inventory data for Mushroom Corporation for the year ended December 3 1 , 2 0 2 3 , are as follows: Beginning inventory 5

 

Inventory data for Mushroom Corporation for the year ended December 31, 2023, are as follows:

Beginning inventory 50 units at $150 each

March 31 purchase 50 units at $155 each

1st quarter sales 60 units

June 30 purchase 55 units at $160 each

2nd quarter sales 70 units

September 30 purchase 60 units at $170 each

Required

Compute the perpetual ending inventory balance on December 31, 2023, using:

FIFO

Weighted-average

 

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