Question
Oriole Appliance uses a perpetual inventory system. For its flat-screen television sets, the January 1 inventory was3sets at $390each. On January 10, Oriole purchased6units at
Oriole Appliance uses a perpetual inventory system. For its flat-screen television sets, the January 1 inventory was3sets at $390each. On January 10, Oriole purchased6units at $460each. The company sold2units on January 8 and5units on January 15.
Compute the ending inventory under FIFO.(Round answer to 0 decimal places, e.g. 1,250.)
FIFO
The ending inventory$
Compute the ending inventory under LIFO.(Round answer to 0 decimal places, e.g. 1,250.)
LIFO
The ending inventory$
Compute the ending inventory under moving-average cost.(Round average-cost per unit to 2 decimal places, e.g. 12.50 and final answer to 0 decimal places, e.g. 1,250.)
MOVING-AVERAGE COST
The ending inventory$
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