Question
La Boca Restaurant made the following purchases of chardonnay wine: # of Cases Price/Case $60 61 63 64 67 68 Total Cost $ 1,200
La Boca Restaurant made the following purchases of chardonnay wine: # of Cases Price/Case $60 61 63 64 67 68 Total Cost $ 1,200 1,525 1,890 1,728 2,345 Beginning Inventory Jan. 1: 20 March 10 25 June 20 30 Aug. 29 27 Oct. 10 35 Dec. 1 20 Available for sale 157 On December 31, La Boca had an inventory of twenty-five cases of chardonnay wine. 1,360 10,048 Required: Calculate the value of the ending inventory of twenty-five cases under weighted average, LIFO, and FIFO. 2
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