Maurice Company sells hair products. From the following inventory record sheets for Baby Soft Shampoo, determine the
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Question:
Maurice Company sells hair products. From the following inventory record sheets for Baby Soft Shampoo, determine the total units in, total amount, and the value of the ending inventory of 300 bottles based on average cost, FIFO, and LIFO. Round cost per unit to two decimal places, and final answer to nearest dollar.
Date | Units In | Cost | Amount | |||||||
1/11 | 400 | $3.50 | $1,400 | |||||||
1/23 | 30 | 3.00 | 90 | |||||||
2/10 | 110 | 3.30 | 363 | |||||||
2/20 | 180 | 3.40 | 612 | |||||||
2/25 | +70 | 3.70 | +259 |
Average cost: | $ |
FIFO: | $ |
LIFO |
Related Book For
Business Statistics for Contemporary Decision Making
ISBN: 978-0470910184
6th Edition
Authors: Ken Black
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