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Question - The table below gives inventory figures for Sonic Blu-ray Players at Superior Electronics.
Date
Units Purchased
Cost per Unit
Beginning Inventory, January 1
42
$124
Purchase, February 20
34
$104
Purchase, April 16
32
$149
Purchase, June 8
27
$144
When the buyer for Superior Electronics took physical inventory of the Blu-ray players on July 31, 68 units remained in inventory.
a. Calculate the dollar value of the 68 Blu-ray players by using FIFO.
b. Calculate the dollar value of the 68 Blu-ray players by using LIFO.
c. Calculate the dollar value of the 68 Blu-ray players by using the average cost method. Round your answer and the average cost per unit to the nearest cent.
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