The Bergman Company sells three different products. Five years ago, management adopted the LIFO inventory method and

Question:

The Bergman Company sells three different products. Five years ago, management adopted the LIFO inventory method and established three specific pools of goods. Bergman values all incremental layers of inventory at the average cost of purchases within the period. Information relating to the three products for the first quarter of 2011 is given on the following page.

Instructions:
Compute the ending inventory value for the first quarter of 2011. (Round unit inventory values to the nearest cent and final inventory values to the nearestdollar.)

Ending Inventory
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula Ending Inventory Formula =...