Refer to the information in E6-4B and assume the perpetual inventory system is used. Calculate the ending
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Refer to the information in E6-4B and assume the perpetual inventory system is used. Calculate the ending inventory cost of product \(\mathrm{M}\) on March 15 (after the sale) using
(a) first-in, first-out,
(b) last-in, first-out,
(c) the weighted-average cost method. Round your final answers to the nearest dollar.
Exercise E6-4B
Spanner Company is a retailer that uses the periodic inventory system. On March 1, it had 100 units of product M at a total cost of \(\$ 1,590\). On March 6, Spanner purchased 200 units of M for \(\$ 3,600\). On March 10, it purchased 125 units of M for \(\$ 3,000\). On March 15, it sold 200 units of M for \(\$ 6,000\). Calculate the March cost of goods sold and the ending inventory at March 31.
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