Question
The following units are available for sale during the year: January 1 Beginning inventory 10 units at $18 each April 3 Purchase 30 units at
The following units are available for sale during the year:
January 1 Beginning inventory 10 units at $18 each
April 3 Purchase 30 units at $20 each
August 31 Purchase 28 units at $28 each
September 29 Purchase 17 units at $30 each
December 31 Ending inventory
Determine ending inventory cost by (a) FIFO method, (b) LIFO method, and (c) average cost method.
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Financial Accounting For MBAs
Authors: Peter D. Easton, John J. Wild, Robert F. Halsey, Mary Lea McAnally
3rd Edition
0978727932, 978-0978727932
