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Is this correct? The following data represent the inventory figures for 55 -gallon fish tanks at an aquarium. 55-Gallon Fish Tanks Inventory (a) How many
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The following data represent the inventory figures for 55 -gallon fish tanks at an aquarium. 55-Gallon Fish Tanks Inventory (a) How many fish tanks did the aquarium have available for sale? fish tanks (b) Calculate the total cost (in \$) of the tanks available for sale. $ (c) If physical inventory on December 31 showed 88 tanks on hand, calculate their dollar value by using FIFO. $ (d) Calculate the value of the 88 tanks by using LIFO (in \$). $ (e) Calculate the dollar value of the 88 tanks by using the average cost method (Round your answer to the nearest cent). \$ The following data represent the inventory figures for 55 -gallon fish tanks at an aquarium. 55-Gallon Fish Tanks Inventory (a) How many fish tanks did the aquarium have available for sale? fish tanks (b) Calculate the total cost (in \$) of the tanks available for sale. $ (c) If physical inventory on December 31 showed 88 tanks on hand, calculate their dollar value by using FIFO. $ (d) Calculate the value of the 88 tanks by using LIFO (in \$). $ (e) Calculate the dollar value of the 88 tanks by using the average cost method (Round your answer to the nearest cent). \$Step by Step Solution
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