Question: last column in second picture is average-cost, thanks! Question 2 of 3 0/4 View Policies Show Attempt History Current Attempt in Progress Riverbed Corporation began

last column in second picture is average-cost, thanks!  last column in second picture is average-cost, thanks! Question 2 of
3 0/4 View Policies Show Attempt History Current Attempt in Progress Riverbed

Question 2 of 3 0/4 View Policies Show Attempt History Current Attempt in Progress Riverbed Corporation began operations on December 1, 2016. The only inventory transaction in 2016 was the purchase of inventory on December 10, 2016, at a cost of $24 per unit. None of this inventory was sold in 2016. Relevant information is as follows. 180 Ending inventory units December 31, 2016 December 31, 2017, by purchase date December 2, 2017 July 20, 2017 180 50 230 During the year 2017, the following purchases and sales were made. Purchases Sales March 15 380 units at $29 April 10 280 July 20 380 units at 30 August 20 380 September 4 280 units at 33 November 18 230 December 2 180 units at 36 December 12 280 The company uses the periodic inventory method. (a1) Your Answer Correct Answer * Your answer is incorrect Calculate average-cost per unit. (Round answer to 2 decimal places, ee 2.76.) (a2) Determine ending inventory under (1) specific identification (2) FIFO, (3) LIFO, and (4) average-cost. (Round answers to decimal places, eg. 2,760.) Specific identification LIFO Ending $ Inventory FIFO A

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!