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Alternative Inventory Methods Frate Company was formed on December 1, 2015, and uses the periodic inventory system. The following information is available from Frater's inventory records for Product Ply: Units Unit Cost January 1, 2016 (beginning inventory) 800 $9.00 Purchases: January 6, 2016 1,500 10.00 January 25, 2016 1,200 10.50 February 17, 2016 600 11.00 March 27, 2016 900 11.50 A physical inventory on March 31, 2016 shows 1,600 units on hand Required: For each method, enter your answers in chronological order. Prepare schedules to compute the ending Inventory at March 31, 2016, under each of the following inventory methods 1. FIFO FRATE COMPANY Computation of Inventory for Product Ply Under FIFO Inventory Method March 31, 2016 Units Unit cost Total cost keAssignment/takeAssignment Main.do?invoker=&takeAssignmentSessionLocator -&inprogress- 1. FIFO FRATE COMPANY Computation of Inventory for Product Ply Under FIFO Inventory Method March 31, 2016 Units Unit cost Total cost January 6, 2016 (portion) 800 9 7,200 January 6, 2016 (portion) 1,500 10 1,500 January 25, 2016 (portion) 1.200 10.50 12.600 March 31, 2016 Inventory 2. LIFO FRATE COMPANY Computation of Inventory for Product Ply Under LIFO Inventory Method March 31, 2016 Units Unit cost Total cost March 31, 2016 inventory All work saved Of Cost Or Market Record x CengageNOWV2 Online teachin x + akeAssignment/takeAssignment Main.do?invokerStakeAssignmentSessionLocator=&in 2. LIFO FRATE COMPANY Computation of Inventory for Product Ply Under LIFO Inventory Method March 31, 2016 Units Unit cost Total cost March 31, 2016 Inventory 3. Weighted average (For the weighted average method, round the average cost per FRATE COMPANY Computation of Inventory for Product Ply Under Weighted Average Inventory Method March 31, 2016 Units Unit cost Total cost Beginning inventory January 6, 2016 January 25, 2016 February 17, 2016 All work saved March 31, 2016 Inventory 3. Weighted average (For the weighted average method, round the average cost per unit to two decimal place.) FRATE COMPANY Computation of Inventory for Product Ply Under Weighted Average Inventory Method March 31, 2016 Units Unit cost Total cost Beginning inventory January 6, 2016 January 25, 2016 February 17, 2016 March 27, 2016 Total Weighted average cost March 31, 2016 Inventory Previous Emas Suomet Teleo