The following information pertains to Mason Company for Year 2: Beginning inventory Units purchased 156 units...
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The following information pertains to Mason Company for Year 2: Beginning inventory Units purchased 156 units $ 50 438 units e $ 75 Ending inventory consisted of 62 units. Mason sold 532 units at $150 each. All purchases and sales were made with cash. Operating expenses amounted to $4,125. Compute the amount of ending inventory using (1) FIFO, (2) LIFO, and (3) weighted average. (Round cost per unit to 3 decimal places and final answers to the nearest whole dollar amount.) Ending Inventory FIFO LIFO Weighted average The following information pertains to Mason Company for Year 2: Beginning inventory Units purchased 156 units $ 50 438 units e $ 75 Ending inventory consisted of 62 units. Mason sold 532 units at $150 each. All purchases and sales were made with cash. Operating expenses amounted to $4,125. Compute the amount of ending inventory using (1) FIFO, (2) LIFO, and (3) weighted average. (Round cost per unit to 3 decimal places and final answers to the nearest whole dollar amount.) Ending Inventory FIFO LIFO Weighted average
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Unit Unit Cost Total Cost Beginning inventory 156 50 7... View the full answer
Related Book For
Introductory Financial Accounting for Business
ISBN: 978-1260299441
1st edition
Authors: Thomas Edmonds, Christopher Edmonds
Posted Date:
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