Question
some of the information found on a detail inventory card for Slatkin Inc. for the first month of operations is as follows. Received Date No.
some of the information found on a detail inventory card for Slatkin Inc. for the first month of operations is as follows.
|
| Received |
|
|
|
| ||
Date |
| No. of Units |
| Unit Cost |
| Issued, No. of Units |
| Balance, No. of Units |
January 2 |
| 1,690 |
| $3.24 |
|
|
| 1,690 |
7 |
|
|
|
|
| 1,190 |
| 500 |
10 |
| 1,090 |
| 3.46 |
|
|
| 1,590 |
13 |
|
|
|
|
| 990 |
| 600 |
18 |
| 1,490 |
| 3.57 |
| 790 |
| 1,300 |
20 |
|
|
|
|
| 1,100 |
| 200 |
23 |
| 1,790 |
| 3.68 |
|
|
| 1,990 |
26 |
|
|
|
|
| 1,290 |
| 700 |
28 |
| 2,090 |
| 3.78 |
|
|
| 2,790 |
31 |
|
|
|
|
| 1,790 |
| 1,000 |
From these data compute the ending inventory on each of the following bases. Assume that perpetual inventory records are kept in units only. (1) First-in, first-out (FIFO). (2) Last-in, first-out (LIFO). (3) Average-cost. (Round final answers to 0 decimal places, e.g. 6,548.)
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