Please answer questions below.

 

1) What is the value of Ending Inventory at Dec. 31, using FIFO?

 

(2) What is the value of Ending Inventory at Dec. 31, using LIFO?

 

(3) What is the value of Ending Inventory at Dec. 31, using Weighted-Average Method?

Jan 01 Beg Inv ........... 150 units @ $8
Feb 20 Purchase ......200 units @ $9
Apr 12 Purchase......250 units @ $10
Sep 20 Purchase......200 units @ $11

Inventory @ Dec 31 is 430 units.

Answer rating: 100% (QA)

To calculate the value of the Ending Inventory at Dec 31 using different inventory costing methods lets analyze each method separately 1 FIFO FirstIn ... View the full answer