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The units of Manganese Plus available for sale during the year were as follows: @ $29 $609 Mar. 1 June 16 Inventory Purchase Purchase 21
The units of Manganese Plus available for sale during the year were as follows: @ $29 $609 Mar. 1 June 16 Inventory Purchase Purchase 21 units 31 units $30 930 Nov. 28 38 units @ $38 1,444 90 units $2,983 There are 10 units of the product in the physical inventory at November 30. The periodic inventory system is used. a. Determine the inventory cost by the FIFO method. $ b. Determine the inventory cost by the LIFO method. c. Determine the inventory cost by the average cost methods. Round answer to two decimal places. The Boxwood Company sells blankets for $36 each. The following was taken from the inventory records during May. The company had no beginning inventory on May 1. Date Blankets Units Cost May 3 Purchase 10 $15 10 Sale 3 17 Purchase 14 $18 20 Sale 6 6 23 Sale 2 30 Purchase 11 $20 Assuming that the company uses the perpetual inventory system, determine the ending inventory for the month of May using the LIFO inventory cost method. Oa. $433 Ob. $622 Oc. $189 Od $480
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