Use the following information to answer questions #1-2. Computers for your store were purchased each month from January through April. However, the cost varied because of the manufacturer's price reductions.

Month.                     Units Purchased                       Unit Cost

Jan                                  12                                     $1,100.00
Feb                                  10                                     $1,100.00
Mar                                  20                                    $1,000.00
Apr                                  15                                      $ 950.00
 

1. At the end of April, a stock count was conducted. Ten computers remained in stock. Using the LIFO method, calculate the dollar value of the computers remaining in stock. Please show all calculations and rounding to two decimal places.

 

2. Using the FIFO method, calculate the dollar value of the computers remaining in stock. Please show all calculations and rounding to two decimal places.

 

Answer rating: 100% (QA)

1 Total number of computers purchased is 12102015 57 computers If ten remaind in st... View the full answer