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Please show all the work with explanation. Using the perpetual inventory system calculate the ending inventory under each of the following independent situations: Beginning Inventory
Please show all the work with explanation.
Using the perpetual inventory system calculate the ending inventory under each of the following independent situations: |
Beginning Inventory | 400 units @ 4 | ||||
January purchase | 100 units @$5 | ||||
February purchase | 200 units @$6 | ||||
March purchase | 300 units @$7 | ||||
used 301 units |
Weighted Average | Show all work |
FIFO |
LIFO |
Determine the ending inventory using the weighted average method |
FIFO | |||||||||
using the same data above determine the ending inventory using FIFO cost flow assuming | |||||||||
125 units sold for $7 each |
LIFO | ||||||||
using the same data above determine the ending inventory using the LIFO cost flow assuming | ||||||||
50 units are sold for $10each |
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