Question
There was no beginning inventory at the beginning of 2018. 2018 2019 Purchases Jan.2 100@$20 Feb.10 150@$35 Mar.20 200@$25 May 20 100@$40 Jul.30 300@$30 Dec.17
There was no beginning inventory at the beginning of 2018.
2018 2019
Purchases Jan.2 100@$20 Feb.10 150@$35
Mar.20 200@$25 May 20 100@$40
Jul.30 300@$30 Dec.17 100@$45
Sales Jan.31 50@$50 Apr.15 200@$70
May 15 120@$50 Jul.30 150@$90
Nov.25 300@$55 Dec.20 100@$90
Sales and purchases are the same numbers for a particular year regardless of the inventory method being used.
Find the ending Inventories:
a. Periodic FIFO 2018 $_____
b. Periodic FIFO 2019 $_____
c. Periodic LIFO 2018 $_____
d. Periodic LIFO 2019 $_____
e. Periodic Weighted Average 2018 $_____
f. Periodic Weighted Average 2019 $_____
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