Question
Shania Twain Company was formed on December 1, 2013. The following information is available from Twains inventory records for Product BAP. Units Unit Cost January
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Shania Twain Company was formed on December 1, 2013. The following information is available from Twains inventory records for Product BAP. Units Unit Cost January 1, 2014 (beginning inventory) 756 $ 7 Purchases: January 5, 2014 1,512 8 January 25, 2014 1,638 9 February 16, 2014 1,008 10 March 26, 2014 756 11 A physical inventory on March 31, 2014, shows 2,016 units on hand. Prepare schedules to compute the ending inventory at March 31, 2014, under FIFO inventory methods. (Round answer to 0 decimal places, e.g. 2,760.) FIFO Ending Inventory at March 31, 2014 $
Prepare schedules to compute the ending inventory at March 31, 2014, under LIFO inventory methods. (Round answer to 0 decimal places, e.g. 2,760.) LIFO Ending Inventory at March 31, 2014 $ |
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