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please help!!! Mastery Problem: Inventories Changing Prices You work for a CPA firm that has been hired by Widget Tek Inc. a merchandising company that
please help!!! Mastery Problem: Inventories Changing Prices You work for a CPA firm that has been hired by Widget Tek Inc. a merchandising company that is getting ready to expand. The president of sure that all the financial statements accurately reflect the company's accounting records, As preparation for this assignment, you have been asked to review the effects of changing prices on three inventory costing methods LIFO, F Identify the scenarios and inventory methods that result in the highest and lowest values for each item listed. Enter Highest" "Lowest" if not Cost of Goods Sold Ending Inventory Net Income LIFO, when prices are rising FIFO, when prices are falling Weighted average. When prices are rising LIFO, when prices are falling FIFO, when prices are nising Weighted average, when prices are falling Inventory Records Widget Tok Inc.'s original accountant accepted a position with another firm and left in early March You have been asked to view the ruby Inventory Date Quantity Unit Cost Total Cost Man 830 $98 $3.300 1,273 595 5121.125 Mars 630 562.700 Man 11 325 590 531 850 Mac 14 325 598 531.550 780 3100 580340 Mar 22 250 59 525.480 Mar 25 260 52.480 590
please help!!!
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