Riverbed Company was formed on December 1, 2016. The followinginformation is available from Riverbed’s inventory records forProduct BAP.
| | Units | | Unit Cost |
January 1, 2017 (beginning inventory) | | 732 | | $ 8.00 |
Purchases: | | | | |
January 5, 2017 | | 1,464 | | 9.00 |
January 25, 2017 | | 1,586 | | 10.00 |
February 16, 2017 | | 976 | | 11.00 |
March 26, 2017 | | 732 | | 12.00 |
A physical inventory on March 31, 2017, shows 1,952 units onhand.
- Prepare schedule to compute the ending inventory at March 31,2017, under FIFO inventory method.
| Units | Unit cost | Total Cost |
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Ending inventory | | | |
- Prepare schedule to compute the ending inventory at March 31,2017, under LIFO inventory method.
| Units | Unit cost | Total Cost |
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Ending inventory | | | |
3. Calculate average-cost per unit. (Round answer to2 decimal places, e.g. 2.76.)
4. Compute the ending inventory at March 31, 2017, underWeighted-average inventory method. (Round answer to 0decimal places, e.g. 2,760.)
