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Prepare schedule to compute the ending inventory

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Reference no: EM131592640

Problem - Ayayai Company was formed on December 1, 2016. The following information is available from Ayayai's inventory records for Product BAP.

Units Unit Cost

January 1, 2017 (beginning inventory) 642 $ 9.00

Purchases: 

 January 5, 2017 1,284 10.00 

January 25, 2017 1,391 11.00  

February 16, 2017 856 12.00 

 March 26, 2017 642 13.00

A physical inventory on March 31, 2017, shows 1,712 units on hand.

Required - Prepare schedule to compute the ending inventory at March 31, 2017, under FIFO inventory method.

Reference no: EM131592640

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