Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 11 Aug 2017 My Price 9.00

Victoria Company

Victoria Company was formed on December 1, 2013. The following information is available from Jones's inventory record for Product X

 

 

 

January 1, 2014 (beginning invnetory) 1600 units , unit cost $18.00

 

Purchases:

 

January 5, 2014: 2600 units, unit cost $20.00

 

February 16, 2014: 1,000 units, unit cost $22.00

 

March 15, 2014: 1,800 units, unit cost $23.00

 

 

 

A physcial inventory on March 31, 2014, shows 2,000 units on hand

 

 

 

Instructions:

 

 

 

Prepare schedules to compute the ENDING INVENTORY at March 31, 2014, under each of the following methods. Show computations in complete form.

 

 

 

(A) FIFO

 

(B) LIFO

(C) Weighted Average

Answers

Maurice Tutor
(5)
Status NEW Posted 11 Aug 2017 06:08 PM My Price 9.00

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