Question: ch 16 2. The table below gives inventory figures for oil filters at Advance Auto Parts. Date Units Purchased Cost per Unit Beginning Inventory, January

ch 16

2. The table below gives inventory figures for oil filters at Advance Auto Parts.

Date Units Purchased Cost per Unit

Beginning Inventory, January 1 169 $1.50

Purchase, March 14219 1.70

Purchase, May 25 199 1.52

Purchase, August 19 309 1.81

Purchase, October 24 259 1.68

When the merchandise manager of Advance Auto Parts took physical inventory of the oil filters on December 31, it was found that 568 remained in inventory.

a. Calculate the dollar value of the 568 oil filters by using FIFO. Round your answer to the nearest cent.

b. Calculate the dollar value of the 568 oil filters by using LIFO. Round your answer to the nearest cent.

c. Calculate the dollar value of the 568 filters by using the average cost method. Round your answer and the average cost per unit to the nearest cent.

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