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The following information pertains to Mason Company for Year 2: Beginning inventory 148 units @ $46 Units purchased 422 units @ $69 Ending inventory consisted
The following information pertains to Mason Company for Year 2:
Beginning inventory | 148 units @ $46 |
---|---|
Units purchased | 422 units @ $69 |
Ending inventory consisted of 58 units. Mason sold 512 units at $138 each. All purchases and sales were made with cash. Operating expenses amounted to $3,975.
c. Compute the amount of ending inventory using (1) FIFO, (2) LIFO, and (3) weighted average.
Note: Round cost per unit to 3 decimal places and final answers to the nearest whole dollar amount.
\begin{tabular}{|l|l|} \hline & Ending Inventory \\ \hline FIFO & \\ \hline LIFO & \\ \hline Weighted average & \\ \hline \end{tabular}
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