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Sharon Lee Company was formed on December 1, 2019. The following information is available from Lees inventory records for Product BAP. Units Unit Cost January
Sharon Lee Company was formed on December 1, 2019. The following information is available from Lees inventory records for Product BAP.
Units | Unit Cost | |||
January 1, 2020 (beginning inventory) | 1,440 | $ 8 | ||
Purchases: | ||||
January 5, 2020 | 2,880 | 9 | ||
January 25, 2020 | 3,120 | 10 | ||
February 16, 2020 | 1,920 | 11 | ||
March 26, 2020 | 1,440 | 12 |
A physical inventory on March 31, 2020, shows 3,840 units on hand.
Prepare schedule to compute the ending inventory at March 31, 2020, under LIFO inventory method.
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