A beginning inventory and purchases of computer parts follow:
$$\begin{array} { l r }
\text { Beginuning inventory } & 10 @ \$ 10 \
\text { First purchase } & 14 @ \$ 12 \
\text { Second purchase } & 8 @ \$ 16
\end{array}$$
Required: Determine the cost of an ending inventory of 6 computer parts remaining in the periodic inventory under each of the assumptions listed.Round to three decimal places.
a)________ FIFO
b)________ LIFO
c)________ Weighted-average

Question

A beginning inventory and purchases of computer parts follow:
 $$\begin{array} { l r } 
\text { Beginuning inventory } & 10 @ \$ 10 \
\text { First purchase } & 14 @ \$ 12 \
\text { Second purchase } & 8 @ \$ 16
\end{array}$$ 
Required: Determine the cost of an ending inventory of 6 computer parts remaining in the periodic inventory under each of the assumptions listed.Round to three decimal places.
a)________ FIFO
b)________ LIFO
c)________ Weighted-average

Quizplus · Accepted Answer

The Answer of A beginning inventory and purchases of computer parts follow:
 $$\begin{array} { l r } 
\text { Beginuning inventory } & 10 @ \$ 10 \
\text { First purchase } & 14 @ \$ 12 \
\text { Second purchase } & 8 @ \$ 16
\end{array}$$ 
Required: Determine the cost of an ending inventory of 6 computer parts remaining in the periodic inventory under each of the assumptions listed.Round to three decimal places.
a)________ FIFO
b)________ LIFO
c)________ Weighted-average

A Beginning Inventory and Purchases of Computer Parts Follow Required: Determine the Cost of an Ending Inventory of 6