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Mills Company was formed on December 1, 2014. The following information is available from Mills' inventory records for Product Zone. Units 600 Unit Cost $8.00
Mills Company was formed on December 1, 2014. The following information is available from Mills' inventory records for Product Zone. Units 600 Unit Cost $8.00 January 1, 2015 (beginning inventory) Purchases: January 5, 2015 January 25, 2015 February 16, 2015 March 26, 2015 1,100 1,300 800 600 9.00 10.00 11.00 12.00 A physical inventory on March 31, 2015, shows 1,500 units on hand. Prepare a schedule to compute the ending inventory at March 31, 2015 under the FIFO inventory method. MILLS COMPANY Computation of Inventory for Product Zone Under FIFO Inventory Method March 31, 2015 Units Unit Cost Total Cost March 26, 2015 February 16, 2015 January 25, 2015 (portion) March 31, 2015, inventory $ Prepare a schedule to compute the ending inventory at March 31, 2015 under the LIFO inventory method. MILLS COMPANY Computation of Inventory for Product Zone Under LIFO Inventory Method March 31, 2015 Units Unit Cost Total Cost Beginning inventory January 5, 2015 (portion) March 31 2015 inventoni Prepare a schedule to compute the ending inventory at March 31, 2015 under the LIFO inventory method. MILLS COMPANY Computation of Inventory for Product Zone Under LIFO Inventory Method March 31, 2015 Units Unit Cost Total Cost Beginning inventory $ January 5, 2015 (portion) March 31, 2015, inventory $ Prepare a schedule to compute the ending inventory at March 31, 2015, under the weighted-average inventory method. (Round weighted average cost to 2 decimal plac Round the inventory on March to o decimal places, e.g. 1,250.) MILLS COMPANY Computation of Inventory for Product Zone Under Weighted Average Inventory Method March 31, 2015 Units Unit Cost Total Cost Beginning inventory January 5, 2015 January 25, 2015 February 16, 2015 March 26, 2015 $ Weighted average cost $ March 31, 2015, inventory $
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