Question
Windsor Company was formed on December 1, 2016. The following information is available from Windsor's inventory records for Product BAP. Units Unit Cost January 1,
Windsor Company was formed on December 1, 2016. The following information is available from Windsor's inventory records for Product BAP.
Units
Unit Cost
January 1, 2017 (beginning inventory)
648
$7.00Purchases:
January 5, 2017
1,296
8.00January 25, 2017
1,404
9.00February 16, 2017
864
10.00March 26, 2017
648
11.00
A physical inventory on March 31, 2017, shows1,728units on hand.
compute the ending inventory at March 31, 2017, under FIFO inventory method.
WINDSOR COMPANY
COMPUTATION OF INVENTORY FOR PRODUCT
BAP UNDER FIFO INVENTORY METHOD
March 31, 2017
Units
Unit Cost
Total Cost
$
$
$
Link to Text
schedule to compute the ending inventory at March 31, 2017, under LIFO inventory method.
WINDSOR COMPANY
COMPUTATION OF INVENTORY FOR PRODUCT
BAP UNDER LIFO INVENTORY METHOD
March 31, 2017
Units
Unit Cost
Total Cost
$
$
$
Link to Text
Calculate average-cost per unit. (Round answer to 2 decimal places, e.g. 2.76.)
Weighted average-cost per unit
$
Link to Text
Compute the ending inventory at March 31, 2017, under Weighted-average inventory method. (Round answer to 0 decimal places, e.g. 2,760.)
Weighted-Average
Ending Inventory at March 31, 2017
$
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started