Question: 3 On February 27, 2019, Webmaster, Inc. sold 1200 printer to Marine Supplies. Prior to this sale the Webmaster perpetual inventory records for these units included the following cost layers:   Purchase Date  Quantity Unit Cost Total Cost Feb. 12, 2019   500 14   7,000 Feb. 18, 2019    1400 16 22,400 Total on hand  1,900    29400       Required: Complete a subsidiary ledger record for the printer using each of the three inventory valuation methods listed below; Average cost. FIFO LIFO Your inventory records should show both (12. Feb and 18. Feb) purchases of this product, the sale on February 27, and the balance on hand at Feb 28, 2019.

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Inventory Accounting

Inventory accounting is that branch of accounting that helps in determining the specific value of assets at different stages of production and development.