If Comcast is upgrading its cable boxes and has 500 obsolete boxes in ending inventory....

80.2K

Verified Solution

Question

Accounting

image

If Comcast is upgrading its cable boxes and has 500 obsolete boxes in ending inventory. 16 Beginning inventory and purchases Beginning inventory: January 1 March 1 June 1 September 1 December 1 Boxes 15,500 6,500 2,500 1,500 1,000 27,000 Box cost Total cost $ 15 $232,500 104,000 20 50,000 34,500 32,000 $453,000 32 What is the cost of ending inventory using FIFO, LIFO, and the weighted average method? (Round your intermediate calculations to 2 decimal places and final answers to the nearest dollar amount.) Ending inventory FIFO LIFO Weighted average

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students