Hixenbaugh Company uses the periodic inventory system to account for inventories. Information related to Hixenbaugh Company's inventory at October 31 is given below: On October 31 there were 500 units on hand.
Instructions
a. Show calculations to value the ending inventory using FIFO.
b. Show calculations to value the ending inventory using average.

Question

Hixenbaugh Company uses the periodic inventory system to account for inventories. Information related to Hixenbaugh Company's inventory at October 31 is given below:  On October 31 there were 500 units on hand.
Instructions 
a. Show calculations to value the ending inventory using FIFO.
b. Show calculations to value the ending inventory using average.

Quizplus · Accepted Answer

The Answer of Hixenbaugh Company uses the periodic inventory system to account for inventories. Information related to Hixenbaugh Company's inventory at October 31 is given below:  On October 31 there were 500 units on hand.
Instructions 
a. Show calculations to value the ending inventory using FIFO.
b. Show calculations to value the ending inventory using average.

Hixenbaugh Company Uses the Periodic Inventory System to Account for Inventories