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Marigold Corp. had 1,700 units of part M.O. on hand May 1, 2020, costing $25 each. Purchases of part M.O. during May were as follows.

Marigold Corp. had 1,700 units of part M.O. on hand May 1, 2020, costing $25 each. Purchases of part M.O. during May were as follows.

Units

Units Cost

May 9

2,200 $26

17

3,700 28

26

1,200 29

A physical count on May 31, 2020, shows 2,200 units of part M.O. on hand. Using the FIFO method, what is the cost of part M.O. inventory at May 31, 2020? Using the LIFO method, what is the inventory cost? Using the average-cost method, what is the inventory cost? (Round average cost per unit to 2 decimal places, e.g. 15.25 and final answers to 0 decimal places, e.g. 1,620.)

FIFO

LIFO

Average Cost

Inventory Cost

$enter a dollar amount rounded to 0 decimal places

$enter a dollar amount rounded to 0 decimal places

$enter a dollar amount rounded to 0 decimal places

eTextbook and Media

Swifty Company adopted the dollar-value LIFO method on January 1, 2020 (using internal price indexes and multiple pools). The following data are available for inventory pool A for the 2 years following adoption of LIFO.

Inventory

At Base-Year Cost

At Current-Year Cost

1/1/20

$201,600 $201,600

12/31/20

248,900 273,790

12/31/21

255,500 291,270

Computing an internal price index and using the dollar-value LIFO method, at what amount should the inventory be reported at December 31, 2021? (Round price index to 2 decimal places, e.g. 1.45 and inventory to 0 decimal places, e.g. 6,548.)

December 31, 2021

Price Index

enter the price index

Dollar-value LIFO inventory

$enter a dollar amount

eTextbook and Media

Nash Inc., a retail store chain, had the following information in its general ledger for the year 2021.

Merchandise purchased for resale $898,098
Interest on notes payable to vendors 7,836
Purchase returns 14,980
Freight-in 21,560
Freight-out (delivery expense) 18,084
Cash discounts on purchases 7,333

What is Nashs inventoriable cost for 2021?

Nashs inventoriable cost for 2021

$enter Nashs inventoriable cost for 2021 in dollars

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