Question

Bufford Appliance uses a perpetual inventory system. For its flat-screen television sets, the January 1 inventory was 3 sets at $600 each. On January 10, Bufford purchased 6 units at $660 each. The company sold 2 units on January 8 and 4 units on January 15.

Instructions
Compute the ending inventory under
(1) FIFO,
(2) LIFO,
(3) moving-average cost.



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  • CreatedJanuary 30, 2014
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