Question
Maurice Company sells hair products. From the following inventory record sheets for Baby Soft Shampoo, determine the total units in, total amount, and the value
Maurice Company sells hair products. From the following inventory record sheets for Baby Soft Shampoo, determine the total units in, total amount, and the value of the ending inventory of 300 bottles based on average cost, FIFO, and LIFO. Round cost per unit to two decimal places, and final answer to nearest dollar.
Date | Units In | Cost | Amount | |||||||
1/11 | 400 | $3.50 | $1,400 | |||||||
1/23 | 30 | 3.00 | 90 | |||||||
2/10 | 110 | 3.30 | 363 | |||||||
2/20 | 180 | 3.40 | 612 | |||||||
2/25 | +70 | 3.70 | +259 |
Average cost: | $ |
FIFO: | $ |
LIFO |
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Business Statistics for Contemporary Decision Making
Authors: Ken Black
6th Edition
978-0470409015, 9780470559062, 470409010, 470559063, 978-0470910184
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