Financial & Managerial Accounting 17th Edition by Jan Williams ,Susan Haka,Mark Bettner,Joseph Carcello

تمرين 23

Costing Inventory in a Periodic System
Rogers Products uses a periodic inventory system. The company's records show the begin n ing inventory of PH4 oil filters on January 1 and the purchases of this item during the current year to be as follows:

A physical count indicates 200 units in inventory at year-end.
Determine the cost of the ending inventory on the basis of each of the following methods of inventory valuation. (Remember to use periodic inventory costing procedures.)
a. Average cost.
b. FIFO.
c. LIFO.
d. Which of the above methods (if any) results in the same ending inventory valuation under both periodic and perpetual costing procedures? Explain.