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Crane Company was formed in 2016 and maintains its books and records on calendar-year basis. The following information is available from Cranes inventory records for Zhaos only product, the XL5500. Units Unit Cost January 1, 2017 (beginning inventory) 1,100 $77 Purchases January 8, 2017 450 78 January 23, 2017 1,200 78.25 February 9, 2017 300 82 February 25, 2017 600 84 A physical inventory on February 28, 2017, shows 1,200 units on hand.

Prepare schedule to compute the ending inventory at February 28, 2017, under FIFO inventory method. (Round unit costs to 2 decimal places, e.g. 5.25 and final answers to 0 decimal places, e.g. 5,272.) CRANE Company COMPUTATION OF INVENTORY FOR PRODUCT XL5500 UNDER FIFO INVENTORY METHOD choose the accounting period February 28, 2017For the Year Ended February 28, 2017For the Quarter Ended February 28, 2017 Units Unit Cost Total Cost select an opening name Beginning InventoryPurchases January 8, 2017Purchases January 23, 2017Purchases February 9, 2017Purchases February 25, 2017February 28, 2017, Inventory enter a dollar amount $enter a dollar amount $enter a dollar amount select an item Beginning InventoryPurchases January 8, 2017Purchases January 23, 2017Purchases February 9, 2017Purchases February 25, 2017February 28, 2017, Inventory enter a dollar amount enter a dollar amount enter a dollar amount select an item Beginning InventoryPurchases January 8, 2017Purchases January 23, 2017Purchases February 9, 2017Purchases February 25, 2017February 28, 2017, Inventory enter a dollar amount enter a dollar amount enter a dollar amount select a closing name Beginning InventoryPurchases January 8, 2017Purchases January 23, 2017Purchases February 9, 2017Purchases February 25, 2017February 28, 2017, Inventory enter a total amount $enter a total amount

Prepare schedule to compute the ending inventory at February 28, 2017, under LIFO inventory method. (Round unit costs to 2 decimal places, e.g. 5.25 and final answers to 0 decimal places, e.g. 5,272.) CRANE Company COMPUTATION OF INVENTORY FOR PRODUCT XL5500 UNDER LIFO INVENTORY METHOD choose the accounting period For the Year Ended February 28, 2017February 28, 2017For the Quarter Ended February 28, 2017 Units Unit Cost Total Cost select an opening name Beginning InventoryPurchases January 8, 2017Purchases January 23, 2017Purchases February 9, 2017Purchases February 25, 2017February 28, 2017, Inventory enter a dollar amount $enter a dollar amount $enter a dollar amount select an item Beginning InventoryPurchases January 8, 2017Purchases January 23, 2017Purchases February 9, 2017Purchases February 25, 2017February 28, 2017, Inventory enter a dollar amount enter a dollar amount enter a dollar amount select a closing name Beginning InventoryPurchases January 8, 2017Purchases January 23, 2017Purchases February 9, 2017Purchases February 25, 2017February 28, 2017, Inventory enter a total amount $enter a total amount

Calculate weighted average-cost per unit. (Round answer to 2 decimal places, e.g. 2.76.) Weighted average-cost per unit $enter the weighted average-cost per unit rounded to 2 decimal places

Compute the ending inventory at February 28, 2017, under weighted-average inventory method. (Round answer to 0 decimal places, e.g. 2,760.) Weighted-Average Ending Inventory at February 28, 2017 $enter a dollar amount rounded to 0 decimal places

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