Date Sept. 1 Sept. 12 Sept. 19 Sept. 26 Explanation Units Unit Cost Inventory $100 Purchases Purchases Purchases Totals 15 42 57 Ending inventory at September 30 21 135 * Your answer is incorrect. 103 $ 104 105 Compute the ending inventory at September 30 using FIFO, LIFO, and average-cost. (Round average cost per unit to 3 decimal places, e.g. 125.153 and final answers to O decimal places, e.g. 125.) Total Cost $ 1,500 4,326 5,928 2,205 $13,959 FIFO 2705 $ LIFO 5826 $ AVERAGE-COST
Date Sept. 1 Sept. 12 Sept. 19 Sept. 26 Explanation Units Unit Cost Inventory $100 Purchases Purchases Purchases Totals 15 42 57 Ending inventory at September 30 21 135 * Your answer is incorrect. 103 $ 104 105 Compute the ending inventory at September 30 using FIFO, LIFO, and average-cost. (Round average cost per unit to 3 decimal places, e.g. 125.153 and final answers to O decimal places, e.g. 125.) Total Cost $ 1,500 4,326 5,928 2,205 $13,959 FIFO 2705 $ LIFO 5826 $ AVERAGE-COST
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter7: Inventories
Section: Chapter Questions
Problem 4CP: Golden Eagle Company began operations on April 1 by selling a single product. Data on purchases and...
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