Shania Twain Company was formed on December 1, 2019. The following information is available from Twain?s inventory records for Product BAP.

A physical inventory on March 31, 2020, shows 1,600 units on hand.

Instructions

Prepare schedules to compute the ending inventory at March 31, 2020, under each of the following inventory methods.

a. FIFO

b. LIFO.

c. Weighted-average (round unit costs to two decimal places).

Transcribed Image Text:

Units 600 Unit Cost $ 8.00 January 1, 2020 (beginning inventory) Purchases: January 5, 2020 January 25, 2020 February 16, 2020 March 26, 2020 1,200 9.00 1,300 10.00 800 11.00 600 12.00