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Some of the information found on a detail inventory card for Bonita Inc. for the first month of operations is as follows. Date No. of
Some of the information found on a detail inventory card for Bonita Inc. for the first month of operations is as follows.
Date | No. of Units | Unit Cost | Issued No. of Units | Balance No. of Units |
Jan 2 | 1600 | 3.75 | 1600 | |
Jan 7 | 1100 | 500 | ||
Jan 10 | 1000 | 4.00 | 1500 | |
Jan 13 | 900 | 600 | ||
Jan 18 | 1400 | 4.13 | 700 | 1300 |
Jan 20 | 1100 | 200 | ||
Jan 23 | 1700 | 4.25 | 1900 | |
Jan 26 | 1200 | 700 | ||
Jan 28 | 2000 | 4.38 | 2700 | |
Jan 31 | 1700 | 1000 |
If the perpetual inventory record is kept in dollars, and costs are computed at the time of each withdrawal, would the amounts shown as ending inventory in (1), (2), and (3) above be the same? What amount would be shown as ending inventory?
Ending Inventory
FIFO | $ |
LIFO | $ |
Average-cost | $ |
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