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FIFO, LFO, Average Cost ( 25 points) Lester Company sells many products. Huckleberry is one...

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Accounting

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FIFO, LFO, Average Cost ( 25 points) Lester Company sells many products. Huckleberry is one of its popular items. Below is an analysis of the inventory n.mbses and cales of Huckleberry for the month of March. Lester Company uses the periodic inventory system. Instructions a) Determine the number of items left in ending inventory under FIFO, LFO, and average cost methods: b) Using the FIFO assumption, calculate the amount assigned to the inventory on hand on March 31 . (ending inventory) (Show computations) c) Using the weighted average assumption, calculate the amount assigned to the inventory on hand on March 31. (Show computations) d) Using the LFO assumption, calculate the amount assigned to the inventory on hand on March 31. (Sho computations)

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