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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
The Webster Store shows the following information relating to one of its products.
Inventory, January 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 300 units @ $17.50
Sales, January 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 200 units
Purchases, January 10 . . . . . . . . . . . . . . . . . . . . . . . . . . 900 units @ $18.00
Sales, January 18 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 800 units
Purchases, January 20 . . . . . . . . . . . . . . . . . . . . . . . . . . 1,200 units @ $19.50
Sales, January 25 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,000 units
What are the values of ending inventory under a periodic inventory system assuming a
(1) FIFO,Â
(2) LIFO
(3) Average cost flow? (Round unit costs to three decimal places.)
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