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The following is your inventory records for the past 4 months (with month 0 = today): Month: -4 -3 -2 -1 0 (today) Beg. Inventory
The following is your inventory records for the past 4 months (with month 0 = today): Month: -4 -3 -2 -1 0 (today) Beg. Inventory 0 2 6 8 9 Receipts 2 7 2 2 2 On Hand 2 9 8 10 11 Order Releases 0 3 0 1 0 End Inventory 2 6 8 9 11 Use Table 3.3 on page 99 of the textbook for historical material costs. Today you were asked to quote the material cost for an order of 7 units. If you use LIFO accounting, what is the total material cost for the 7 units. The answer format is XX without the "$" symbol. m alce, if 1 or 2 units were purchased 3 per J) TUN the current time of the estimate (E = 0). then each unit DIJICILLUS LII TABLE 3.3 Historical and Forecast Unit Costs for Quantity and Period Period Quantity 1-2 34 56 78 Historical Costs 10.00 10.70 11.10 11.25 12.00 8.00 8.60 8.95 9.00 9.65 7.00 7.50 7.80 7.90 8.40 6.50 7.00 7.20 7.30 7.85 12.95 12.97 13.52 14.10 14.69 15.31 Forecast Costs 10.01 8.73 10.44 9.10 10.89 9.49 11.36 9.89 11.84 10.32 12.35 10.75 8.12 8.46 8.83 9.20 9.60 10.01
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