Question
Use the following information to answer the next four questions. ABC, Inc. had 300 units in beginning inventory on April 1, 2023. The cost per
Use the following information to answer the next four questions. ABC, Inc. had 300 units in beginning inventory on April 1, 2023. The cost per unit of such inventory is $75. Information on the purchases and sales made during the month of April 2023 is presented below:
Date | bought | Sold |
5 April | 100 units at $125 each | |
12 April | 50 units at $80 each | |
14 April | 150 units at $130 each | |
29 April | 60 units at $85 each |
2.
What is the cost of the company's ending inventory as of April 30 under LIFO, periodic? Select one:
A $12,000
b. $13,600
c. $12,500
d. $12,750
3.
What is the company's cost of inventory as of April 30 under the moving average method? Select one:
A $13,600
b. $12,500
c. $12,320
d. $12,700
4.
What is the company's cost of inventory as of April 30 under the weithaverage method? Select one:
A $13,600
b. $12,500
c. $12,320
d. $12,700
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