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Sarasota Company was formed on December 1, 2016. The following information is available from Sarasotas inventory records for Product BAP. Units Unit Cost January 1,
Sarasota Company was formed on December 1, 2016. The following information is available from Sarasotas inventory records for Product BAP.
Units | Unit Cost | |||
January 1, 2017 (beginning inventory) | 612 | $ 6.00 | ||
Purchases: | ||||
January 5, 2017 | 1,224 | 7.00 | ||
January 25, 2017 | 1,326 | 8.00 | ||
February 16, 2017 | 816 | 9.00 | ||
March 26, 2017 | 612 | 10.00 |
A physical inventory on March 31, 2017, shows 1,632 units on hand.
Prepare schedule to compute the ending inventory at March 31, 2017, under FIFO inventory method. Prepare schedule to compute the ending inventory at March 31, 2017, under LIFO inventory method.
Calculate average-cost per unit. Compute the ending inventory at March 31, 2017, under Weighted-average inventory method. |
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