Maurice Tutor

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Category > Management Posted 05 May 2018 My Price 7.00

Willand Company

The Willand Company had 320 units on hand at the beginning of the year, with a unit cost of $4.20. The number and unit cost of units purchased and the number of units sold during the year are shown. What would be the value of the ending inventory of 380 units based on the (a) average cost; (b) first-in, first-out; and (c) last-in, first-out costing methods?

 

 

 

Units

Unit

Units

Units

Date

Purchased

Cost

Sold

on Hand

 

 

 

 

 

Jan. 1

 

$4.20

 

320

Feb. 2

 

 

190

130

Apr. 16

200

$4.32

 

330

June 10

300

$4.40

 

630

Aug. 5

 

 

280

350

Oct. 12

250

$4.48

 

600

Nov. 27

 

 

220

380

a. Average cost:

b. First-in, first-out:

c. Last-in, first-out:

Answers

Maurice Tutor
(5)
Status NEW Posted 05 May 2018 06:05 PM My Price 7.00

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