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Determine ending inventory cost by average cost method

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Reference no: EM132562810

The following units are available for sale during the year:

January 1 Beginning Inventory 10 units at $18 each= $180

April 3 Purchase 30 units at $20 each= $600

August 31 Purchase 28 units at $25 each=$700

September 29 Purchase 17 units at $30 each= $510

December 31 Ending Inventory 21 units @ 24.40=$512.40

Question a. Determine ending inventory cost by FIFO method.

Question b. Determine ending inventory cost by LIFO method.

Question 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: EM132562810

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