Calculate the ending inventory under each of the following methods given the information below about purchases and sales during the year.Assume a periodic inventory system.Round to four decimal places.
$\begin{array}{rll}
\text { April } 1 & \text { Beginning inventory } & 60 \text { units } @ \$ 30 \
11 & \text { Furchases } & 80 \text { urits } @ \$ 32 \
21 & \text { Purchases } & 30 \text { urits } @ \$ 35
\end{array}$
Sales for April: 115 units
a)________ FIFO
b)________ LIFO
c)________ Weighted-average

Question

Calculate the ending inventory under each of the following methods given the information below about purchases and sales during the year.Assume a periodic inventory system.Round to four decimal places.
 $\begin{array}{rll}
\text { April } 1 & \text { Beginning inventory } & 60 \text { units } @ \$ 30 \
11 & \text { Furchases } & 80 \text { urits } @ \$ 32 \
21 & \text { Purchases } & 30 \text { urits } @ \$ 35
\end{array}$ 
Sales for April: 115 units
a)________ FIFO
b)________ LIFO
c)________ Weighted-average

Quizplus · Accepted Answer

The Answer of Calculate the ending inventory under each of the following methods given the information below about purchases and sales during the year.Assume a periodic inventory system.Round to four decimal places.
 $\begin{array}{rll}
\text { April } 1 & \text { Beginning inventory } & 60 \text { units } @ \$ 30 \
11 & \text { Furchases } & 80 \text { urits } @ \$ 32 \
21 & \text { Purchases } & 30 \text { urits } @ \$ 35
\end{array}$ 
Sales for April: 115 units
a)________ FIFO
b)________ LIFO
c)________ Weighted-average

Calculate the Ending Inventory Under Each of the Following Methods