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Sawyer Company was formed on December 1, 2020. The following information is available from Sawyer's inventory records for Product BAP January 1, 2021 (beginning
Sawyer Company was formed on December 1, 2020. The following information is available from Sawyer's inventory records for Product BAP January 1, 2021 (beginning inventory) Purchases: January 5, 2021 January 25, 2021 February 16, 2021 March 26, 2021 Units Unit Cost 600 $8.00 1,100 9.00 1,300 10.00 800 11.00 600 12.00 A physical inventory on March 31, 2021, shows 1,500 units on hand. Instructions. Prepare schedules to compute the ending inventory at March 31, 2021, under each of the following inventory methods. (a) FIFO. (b) LIFO. (c) Weighted average.
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