Question

Grape Leaf Ltd. began operations in 2013. The following presentation relates to the inventory valuations of the company at the end of the year using different inventory methods.
Required:
a. If Grape Leaf uses the weighted-average cost formula, what is the value of ending inventory in each of the four years?
b. If Grape Leaf uses the FIFO cost formula, what is the value of ending inventory in each of the four years?
c. What cost formula would you recommend Grape Leaf use if the inventory prices are falling during the four-year period? Explain your answer.


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  • CreatedJune 11, 2015
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