Question
The Heavy Duty Diesel Engine Supply Company provided you the following information for their patented diesel oil filter in 2019: Date Beg Bal. Purchases:
The Heavy Duty Diesel Engine Supply Company provided you the following information for their patented diesel oil filter in 2019: Date Beg Bal. Purchases: March 1 May 14 June 2 October 26 December 23 Total Available Units Unit Cost 200 $20 160 140 200 185 40 925 FIFO-Periodic $20 $21 $22 $26 $26 Average Cost-Periodic Total $ 4,000 A total of 610 were sold in 2019, resulting in 315 units on hand at the end of the year. $ 3,200 $ 2,940 $ 4,400 $ 4,810 $ 1,040 $20,390 Required Determine the ending inventory at December 31, 2019 under the following methods. Show all calculations LIFO-Periodic Dollar Value LIFO Ending Inventory at current prices is $8,190 with current Price Index = 1.30. Beginning inventory at beginning year prices was $4,000 Price Index = 1.00
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