inventory valuation 497541
During June, the following changes in inventory item #27 took place:
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inventory valuation 497541
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|
June 1 |
Balance |
1,400 units @ $24 |
||
|
14 |
Purchased |
800= units @ $36 |
||
|
24 |
Purchased |
700 units @ $30 |
||
|
8 |
Sold |
400 units @ $50 |
||
|
10 |
Sold |
1,000 units @ $40 |
||
|
29 |
Sold |
600 units @ $44 |
Perpetual inventories are maintained.
Instructions
What is the cost of the ending inventory for item #27 under the following methods (Show calculations.)=
(a) FIFO.
(b) LIFO.
(c) Moving average
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