date units purchased total cost of units purch
jan 1 125 units $1,000
jan 8 150 units $1,150
jan 18 225 units $825
jan 30 200 units $750
Using the LIFO inventory method, the value of the ending inventory on Jan. 31 is:
a.1,073
b.1,511
c.1,575
d.2,242
Using the average cost method, the amount allocated to the ending inventory on Jan 31 is:
a. 2,250
b. 1,703
c. 1,596
d. 1,389
Using the FICO method, the amount allocated to cost of goods sold for Jan 31 is:
a. 1,117
b. 1,511
c. 1,672
d. 2,608
2007-09-16
07:32:47
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1 answers
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asked by
Anonymous