Sawyer Company was formed on December 1, 2013. The following information is available from Sawyers inventory records

Sawyer Company was formed on December 1, 2013. The following information is available from Sawyer’s inventory records for Product BAP.

A physical inventory on March 31, 2014, shows 3,200 units on hand.

Instructions
Prepare schedules to compute the ending inventory at March 31, 2014, under each of the following inventory methods.
(a) FIFO.
(b) LIFO.
(c) Weightedaverage.

Transcribed Image Text:

Units Ui Cost $4.00 January 1, 2014 (beginning inventory) Purchases: 1,200 January 5, 2014 January 25, 2014 February 16, 2014 March 26, 2014 2,400 2,600 1,600 1,200 4.50 5.00 5.50 6.00