The units of an item available for sale during the year were as follows: The units of
Question:
The units of an item available for sale during the year were as follows: The units of an item available for sale during the year were as follows:
There are 90 units of the item in the physical inventory at December 31. Determine the cost of ending inventory using
(a) The first-in, first-out method,
(b) The last-in, first-out method,
(c) The weighted average cost method.
Transcribed Image Text:
Jan. 1 Inventory Purchase 54 units at $200 Feb. 15 108 units at $230 April 12 Oct. 21 Purchase 126 units at $260 Purchase 112 units at $275
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a 24750 90 units at 275 b 19080 54 units 200 36 units 230 ...View the full answer
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