If moving average is in use what is the ending inventory in

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Reference no: EM13567937

The following information is available for Quest Company:

Mar. 1	Beginning inventory	15 units @ $12.00 per unit
Mar. 9	Purchase	10 units @ $16.00 per unit
Mar. 14	Sale	6 units
Mar. 20	Purchase	6 units@ $18.00 per unit
Mar. 26	Sale	9 units

Required:

Answer the following questions for Quest Company:

a.	If FIFO is in use, what is the ending inventory in dollars?
b.	If periodic LIFO is in use, what is the cost of goods sold?
c.	If moving average is in use, what is the ending inventory in dollars (round calculations to the nearest cent)?
d.	If weighted average is in use, what is the ending inventory in dollars (round unit cost to the nearest tenth of a cent)?

Reference no: EM13567937

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