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Splish Company was formed on December 1, 2016. The following information is available from Splishs inventory records for Product BAP. Units 636 Unit Cost $
Splish Company was formed on December 1, 2016. The following information is available from Splishs inventory records for Product BAP.
Units 636 Unit Cost $ 7.00 January 1, 2017 (beginning inventory) Purchases: January 5, 2017 January 25, 2017 February 16, 2017 March 26, 2017 1,272 1,378 848 636 8.00 9.00 10.00 11.00 A physical inventory on March 31, 2017, shows 1,696 units on hand. Prepare schedule to compute the ending inventory at March 31, 2017, under LIFO inventory method. SPLISH COMPANY COMPUTATION OF INVENTORY FOR PRODUCT BAP UNDER LIFO INVENTORY METHOD March 31, 2017 Units Unit Cost Total CostStep by Step Solution
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