Jan1 Beginning inventory 630 unit @$43/unit
Feb10 Purchase 358 units $44/unit
Mar.13 Purchase 207 units $31/unit
Mar 15 Sales 630 units $75/unit
Aug 21 Purchase 144 units $51/unit
Sept 5 Purchase 605 units 46/unit
Spet 10 Sales 657 units $75/unit
Total purchase: 1,944 units
Total sales: 1,287 units
Cost of goods available for sale:$84,433
Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) specific identification (Note: The units sold consist of 530 units from beginning inventory, 258 units from the February 10 purchase, 207 from the March 13 purchase, 24 from the August 21 purchase and 268 from the September 5 purchase, and), (d) weighted average.
Please show me formulas of FIFO, LIFO, specific identification, and weight average.
2007-10-14
04:04:41
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1 answers
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asked by
shinya_dgch
1
in
Other - Business & Finance