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Problem 8-5 (Part Level Submission) Some of the information found on a detail inventory card for Martinez Inc. for the first month of operations is
Problem 8-5 (Part Level Submission)
Some of the information found on a detail inventory card for Martinez Inc. for the first month of operations is as follows.
Received
Date
No. of Units
Unit Cost
Issued, No. of Units
Balance, No. of Units
January 2 1,600 $4.20 1,600 7 1,100 500 10 1,000 4.48 1,500 13 900 600 18 1,400 4.62 700 1,300 20 1,100 200 23 1,700 4.76 1,900 26 1,200 700 28 2,000 4.90 2,700 31 1,700 1,000
Problem 8-5 (Part Level Submission)
Some of the information found on a detail inventory card for Martinez Inc. for the first month of operations is as follows.
| Received | ||||||||
| Date | No. of Units | Unit Cost | Issued, No. of Units | Balance, No. of Units | ||||
| January 2 | 1,600 | $4.20 | 1,600 | |||||
| 7 | 1,100 | 500 | ||||||
| 10 | 1,000 | 4.48 | 1,500 | |||||
| 13 | 900 | 600 | ||||||
| 18 | 1,400 | 4.62 | 700 | 1,300 | ||||
| 20 | 1,100 | 200 | ||||||
| 23 | 1,700 | 4.76 | 1,900 | |||||
| 26 | 1,200 | 700 | ||||||
| 28 | 2,000 | 4.90 | 2,700 | |||||
| 31 | 1,700 | 1,000 | ||||||
| Ending inventory 1. FIFO: 2. LIFO: 3. Average-cost: |
|
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