Question: please help with question 2, 3 & 4a Ivanhoe Compirn uses the periodicimentory mothod and had the following imentory information awailable: A phiniral count of
Ivanhoe Compirn uses the periodicimentory mothod and had the following imentory information awailable: A phiniral count of inventary on December 31 revealed that there were 410 units on hand. Arwwer the following independent quest lons, (Rownd averoge per unit cost to 2 decimal ploces, es. 15.25 and other answers to 0 decimal ploces, es. 1,525 ) 1. Assime that the cargany uses the FiFO method. The value of the endirg imentory at December 31 is: 2. Assume that the company uses the Average-Cost method. Thevalue of the ending inventery on December 31 is 3. Assume that the compary uses the LFO method. The value of the ending inventory on Decereber 31 is A. (a) Defermine the difference in the amount of income that the compary would have reported if it had used the FIFO enethod instead of the LiFO method. 5
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