A new restaurant purchased the following wine during the first month of operations.

March 2: Purchased 12 750 ml bottles of M&B wine @ $12.50 each.
March 16: Purchased 24 750 ml bottles of M&B wine @ $13.50 each.
March 31: Sold 32 bottles during March @ $26 each.

Determine the value of the ending inventory and cost of sales for M&B for March using the following (10 points):

a. First-in, first-out method
b. Last-in, first-out method
c. Weighted average method

Answer rating: 100% (QA)

Mar 2 Mar 16 Total Unit 12 24 36 Calculate ... View the full answer