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Riverbed Corporation began operations on December 1, 2016. The only inventory transaction in 2016 was the purchase of inventory on December 10, 2016, at a

Riverbed Corporation began operations on December 1, 2016. The only inventory transaction in 2016 was the purchase of inventory on December 10, 2016, at a cost of $20 per unit. None of this inventory was sold in 2016. Relevant information for fiscal 2017 is as follows: Ending inventory units:

December 31, 2016 130
December 31, 2017, by purchase date
Dec. 2, 2017 130
July 20, 2017 30 160

During 2017, the following purchases and sales were made:

Purchases Sales
Mar. 15 350 units at $24 Apr. 10 220
July 20 350 units at $26 Aug. 20 300
Sept. 4 250 units at $30 Nov. 18 170
Dec. 2 130 units at $30 Dec. 12 360

The company uses the periodic inventory method.

image text in transcribed

Determine the ending inventory under FIFO.

Ending Inventory: $4,800

Determine ending inventory under weighted average cost.

Ending Inventory: $___________

Determine ending inventory under specific identification. 4680 Ending inventory $

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