Question: Please show all the work with explanation. Using the perpetual inventory system calculate the ending inventory under each of the following independent situations: Beginning Inventory
Please show all the work with explanation.
| Using the perpetual inventory system calculate the ending inventory under each of the following independent situations: |
| Beginning Inventory | 400 units @ 4 | ||||
| January purchase | 100 units @$5 | ||||
| February purchase | 200 units @$6 | ||||
| March purchase | 300 units @$7 | ||||
| used 301 units | |||||
| Weighted Average | Show all work | ||||
| FIFO |
| LIFO |
| Determine the ending inventory using the weighted average method |
| FIFO | |||||||||
| using the same data above determine the ending inventory using FIFO cost flow assuming | |||||||||
| 125 units sold for $7 each | |||||||||
| LIFO | ||||||||
| using the same data above determine the ending inventory using the LIFO cost flow assuming | ||||||||
| 50 units are sold for $10each | ||||||||
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