In its first month of operations, Tatung Company made three purchases of merchandise in the following sequence:

Question:

In its first month of operations, Tatung Company made three purchases of merchandise in the following sequence:
(1) 300 units at NT$180,
(2) 400 units at NT$210, and
(3) 200 units at NT$240. Assuming there are 420 units on hand, compute the cost of the under the
(a) FIFO method and
(b) average-cost method. Tatung uses a periodic inventory system. (Round average unit cost to two decimal places.)
Ending Inventory
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula Ending Inventory Formula =...