Question

ManCo Stereo uses the periodic inventory system. Following are the data for its inventories on January 1, the beginning of the fiscal year; purchases during the year; and the inventory count at December 31.


Required
1. Determine the cost of the inventory on December 31 by the weighted- average- cost method. (Round to two decimal places.)
2. Determine the cost of the inventory on December 31 by the first- in, first- out method.
3. Determine the cost of the inventory on December 31 by the last- in, first- outmethod.


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  • CreatedOctober 21, 2014
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