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Please help me to the answer the problem so I can have a better understanding of the problem Question #1 The Bearing Buddy Supply Company
Please help me to the answer the problem so I can have a better understanding of the problem
Question #1 The Bearing Buddy Supply Company provided you the following information for their patented water proof boat trailer wheel bearings for the year 2022: Date Units Unit Cost Total Beg Bal . 200 $20 $ 4, 000 Purchases : March 1 160 $20 $ 3, 200 May 14 140 $21 $ 2, 940 June 2 200 $22 $ 4, 400 October 26 185 $26 4, 810 December 23 40 $26 $ 1, 040 Total Available 925 $20, 390 A total of 610 were sold in 2022, resulting in 315 units on hand at the end of the year. Required Determine the ending inventory at December 31, 2022 under the following methods. Show all calculations. a. FIFO-Periodic b. LIFO-Periodic c. Average Cost-Periodic d. Dollar Value LIFO Note: Ending Inventory at current prices is $8, 190 with current Price Index = 1.30. Beginning inventory at beginning year prices was $4, 000 Price Index = 1.00Step by Step Solution
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