Question
The hospital controller was reviewing the most current monthly supply expense for the month of December. She noticed that supply expense seemed extremely high compared
The hospital controller was reviewing the most current monthly supply expense for the month of December. She noticed that supply expense seemed extremely high compared to historical trends. Assuming that the hospital applies the LIFO method for costing inventory answer the following:
December Inventory Activity Activity Units Price per Unit Beginning Balance 12/1/18 500 12 December 7, Purchases 300 14 December 9, Purchases 800 15 December 19, Purchases 200 16 December 25, Purchases 200 18 Ending Inventory 12/31/18 800 ?
1. What is the supply expense in whole dollars for the month of December?
2. What is the ending inventory value in total dollars?
3.What is the ending inventory value in price per unit?
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