Problem 17 1A Computing inventory costs under different valuation methods LO 17 1 The following data concerns inventory and purchases at Muse Company 95 units at $108 Inventory, January 1 Purchases January 6 January 15 January 22 Inventory, January 31 65 units at $107 50 units at $107 40 units at $101 93 units a Determine the cost of the ending inventory on January 31 under the average cost method b Determine the cost of the ending inventory on January 31 under the first in, first out (FIFO) method c Determine the cost of the ending inventory on January 31 under the last in, first out (LIFO) method Analyze Which inventory valuation method resulted in the highest dollar amount for ending inventory Complete this question by entering your answers in the tabs below Average Cost FIFO LIFO Analyze Determine the cost of the ending inventory on January 31 under the average cost method (Round your average cost per unit answer to 2 decimal places ) Average Cost Merchandise available for sale Ending Inventory Number of Average Unit cost Total cost NL Total cost Number of units units cost per Total cost unit Beginning Inventory, January 1 Purchases January 6 January 15 January 22 Total Average Cost FIFO LIFO Analyze Determine the cost of the ending inventory on January 31 under the first in, first out (FIFO) method FIFO Merchandise available for sale Ending Inventory Number of Unit cost Total cost Total cost Number of Unit cost Total cost units units Beginning Inventory, January 1 Purchases January 6 January 15 January 22 Total Average Cost FIFO LIFO Analyze Determine the cost of the ending inventory on January 31 under the last in, first out (LIFO) method LIFO Merchandise available for sale Number of Unit cost Total cost units Ending Inventory Number of Unit cost units Total cost Beginning Inventory, January 1 Purchases January 6 January 15 January 22 Total Average Cost FIFO LIFO Analyze Which inventory valuation method resulted in the highest dollar amount for ending inventory highest ending inventory valuation method

Question

Problem 17 1A Computing inventory costs under different valuation methods  LO 17 1 The following data concerns inventory and purchases at Muse Company  95 units at $108 Inventory, January 1 Purchases  January 6 January 15 January 22 Inventory, January 31 65 units at $107 50 units at $107 40 units at $101 93 units a  Determine the cost of the ending inventory on January 31 under the average cost method  b  Determine the cost of the ending inventory on January 31 under the first in, first out (FIFO) method  c  Determine the cost of the ending inventory on January 31 under the last in, first out (LIFO) method  Analyze  Which inventory valuation method resulted in the highest dollar amount for ending inventory  Complete this question by entering your answers in the tabs below  Average Cost FIFO LIFO Analyze Determine the cost of the ending inventory on January 31 under the average cost method  (Round your  average cost per unit  answer to 2 decimal places ) Average Cost Merchandise available for sale   Ending Inventory Number of Average Unit cost Total cost   NL Total cost Number of units units cost per Total cost unit Beginning Inventory, January 1 Purchases  January 6 January 15 January 22 Total Average Cost FIFO LIFO Analyze Determine the cost of the ending inventory on January 31 under the first in, first out (FIFO) method  FIFO Merchandise available for sale Ending Inventory Number of Unit cost Total cost Total cost Number of Unit cost Total cost units units Beginning Inventory, January 1 Purchases  January 6 January 15 January 22 Total Average Cost FIFO LIFO Analyze Determine the cost of the ending inventory on January 31 under the last in, first out (LIFO) method  LIFO Merchandise available for sale Number of Unit cost Total cost units Ending Inventory Number of Unit cost units Total cost Beginning Inventory, January 1 Purchases  January 6 January 15 January 22 Total Average Cost FIFO LIFO Analyze Which inventory valuation method resulted in the highest dollar amount for ending inventory  highest ending inventory valuation method

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Problem 17.1A Computing inventory costs under different valuation methods. LO 17-1 The following data concerns inventory and purchases at Muse Company. 95 units at $108

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