There are 10 units in ending inventory compute the value of the ending inventory ...

70.2K

Verified Solution

Question

Accounting

There are 10 units in ending inventory compute the value of the ending inventory
using the periodic inventory method. Compute the answer using FIFO, LIFO and the average
cost methods. (round your answer to the nearest whole number)
Price Cost
Number Per Per
Date Transaction of units unit Purchase
Apr. 3 Inventory 2 10 20
8 Purchase 2 15 30
11 Purchase 3 20 60
30 Purchase 2 25 50
May 8 Purchase 3 25 75
10 Purchase 3 30 90
19 Purchase 3 30 90
28 Purchase 3 35 105
June 5 Purchase 3 40 120
16 Purchase 4 40 160
21 Purchase 4 45 180
28 Purchase 3 50 150

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