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Please solve FIFO and Moving Average both in perpetual method 5 E8-19 FIFO, LIFO, Average-Cost Inventory) Mills Company was formed on December 1, 2014. The
Please solve FIFO and Moving Average both in perpetual method
5 E8-19 FIFO, LIFO, Average-Cost Inventory) Mills Company was formed on December 1, 2014. The following information is available from Mills' inventory records for Product Zone. Units Unit Cost January 1, 2015 (beginning inventory) 600 $ 8.00 Purchases: January 5, 2015 1,100 9.00 January 25, 2015 1,300 10.00 February 16, 2015 800 11.00 March 26, 2015 600 12.00 A physical inventory on March 31, 2015, shows 1,500 units on hand. Instructions Prepare schedules to compute the ending inventory at March 31, 2015, under each of the following inven- tory methods (round to two decimal places). (a) FIFO. solve with perpetual (b) Moving Average ,solve with perpetualStep by Step Solution
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