The following information is available for Massey Company: Assume that Massey uses a periodic inventory system and that there are 700 units left at the end of the month.
Instructions
Compute the cost of ending inventory under the
(a) FIFO method.
(b) Average-cost method.

Question

The following information is available for Massey Company:  Assume that Massey uses a periodic inventory system and that there are 700 units left at the end of the month.
Instructions
Compute the cost of ending inventory under the
(a) FIFO method.
(b) Average-cost method.

Quizplus · Accepted Answer

The Answer of The following information is available for Massey Company:  Assume that Massey uses a periodic inventory system and that there are 700 units left at the end of the month.
Instructions
Compute the cost of ending inventory under the
(a) FIFO method.
(b) Average-cost method.

The Following Information Is Available for Massey Company: Assume