The following units are available for sale during the year: January 1 Beginning inventory 10 units at

Question:

The following units are available for sale during the year:
January 1 Beginning inventory 10 units at $18 each
April 3 Purchase 30 units at $12 each
August 31 Purchase 28 units at $25 each
Sept. 29 Purchase 17 units at $30 each
Dec. 31 21 units yes
Determined cost by (a) FIFO method, (b) LIFO method, (c) average cost methods
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 =...