Question
The clayton music company was formed on december 1, 2010. The following information is available from clayrons inventory records Balance at january 1 2011 4800
The clayton music company was formed on december 1, 2010. The following information is available from clayrons inventory records
Balance at january 1 2011 4800 units at 14.25 Purchases: January 17 2011 9000 units at 15.00 March 12, 2011 7200 units at 16.50 June 23, 2011 5600 units at 15.75 November 15 2011 5400 units at 17.25
The company uaes a periodic inventory system and a physical inventory on november 30 201 shows 9600 units on hand. Prepare schedules to compute the ending inventory at november 30 2011 under each of the following
Fifo, lifo and average cost
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