The January beginning inven­tory of the White Company consisted of 300 units costing $40 each. During the first quarter, the company purchased two batches of goods: 700 Units at $44 on February 21 and 800 units at $50 on March 28. Sales during the first

The January beginning inven­tory of the White Company consisted of 300 units costing $40 each. During the first quarter, the company purchased two batches of goods: 700 Units at $44 on February 21 and 800 units at $50 on March 28. Sales during the first

Inventory valuation methods: basic
computations
. The January beginning inven­tory of the White Company
consisted of 300 units costing $40 each. During the first quarter, the company
purchased two batches of goods: 700 Units at $44 on February 21 and 800 units
at $50 on March 28. Sales during the first quarter were 1,400 units at $75 per
unit. The White Company uses a periodic inventory system. Using the White
Company data, fill in the following chart to compare the results obtained under
the FIFO, LIFO, and weighted-average inventory methods.

Using the White Company data, fill in
the following chart to compare the results obtained under the FIFO, LIFO, and
weighted-average inventory methods.

FIFO

LIFO

Weighted
Average




Goods
available for sale

$

$

$

Ending
inventory, March 31

Cost
of goods sold





Price: £ 45

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