The units of Manganese Plus available for sale during the year were as follows: Mar....
60.1K
Verified Solution
Link Copied!
Question
Accounting
The units of Manganese Plus available for sale during the year were as follows: Mar. 1 Inventory 21 units @ $31 $651 June 16 Purchase 30 units @ $35 1,050 Nov. 28 Purchase 43 units @ $35 1,505 94 units $3,206 There are 14 units of the product in the physical inventory at November 30. The periodic inventory system is used. a. Determine the inventory cost by the FIFO method. $fill in the blank 1 b. Determine the inventory cost by the LIFO method. $fill in the blank 2 c. Determine the inventory cost by the weighted average cost methods. Round intermediate calculations and final answer to two decimal places. $fill in the blank 3
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: Zin AI - Your personal assistant for all your inquiries!
