Petrova Company was formed on December 1, 2007. The following information is available from Petrova€™s inventory records for Product BAP.

A physical inventory on March 31, 2008, shows 1,600 units on hand.

Instructions
Prepare schedules to compute the ending inventory at March 31, 2008, under each of the following inventory methods.
(a) FIFO.
(b) LIFO.
(c)Weighted-average.

Transcribed Image Text:

Units 600 Unit Cost $ 8 January 1, 2008 (beginning inventory) Purchases in 2008 January 5 January 25 February 16 March 26 1,200 1,300 800 600 9 10 12