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Determine ending inventory cost by average cost method

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Reference no: EM132859111

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

Required -

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: EM132859111

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