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Determine ending inventory cost by average cost method

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Reference no: EM132562405

Question - The following units are available for sale during the year:

January 1

Beginning Inventory

10 units at $18 each

April 3

Purchase

30 units at $20 each

August 31

Purchase

28 units at $25 each

September 29

Purchase

17 units at $30 each

December 31

Ending Inventory

21 units

a. Determine ending inventory cost by FIFO method.

b. Determine ending inventory cost by LIFO method.

c. Determine ending inventory cost by average cost method. In your calculations round per unit to the nearest cent. Round your answer to the nearest whole dollar.

Reference no: EM132562405

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