Information about Vinzant Companys inventory of one item follows. Compute the cost of the ending inventory under
Question:
(1) The average cost method (round unit cost to the nearest cent),
(2) The FIFO method,
(3) The LIFO method.
Transcribed Image Text:
Explanation Number of Units Unit Cost Beginning inventory, January 1 Purchases: April August October Ending inventory, December 31 115 $365 135 145 120 115 370 375 377
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Related Book For
College Accounting Chapters 1-30
ISBN: 978-1259631115
15th edition
Authors: John Price, M. David Haddock, Michael Farina
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