Prepare schedules to compute the ending inventory at march

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Shania Twain Company was formed on December 1, 2013. The following information is available from Twain's inventory records for Product BAP.

 

 

Units

 

Unit Cost

January 1, 2014 (beginning inventory)

 

850

 

$ 8

Purchases:

 

 

 

 

   January 5, 2014

 

1,699

 

9

   January 25, 2014

 

1,841

 

10

   February 16, 2014

 

1,133

 

11

   March 26, 2014

 

850

 

12

A physical inventory on March 31, 2014, shows 2,266 units on hand.

(a) Prepare schedules to compute the ending inventory at March 31, 2014, under FIFO inventory methods. (Round answer to 0 decimal places, e.g. 2,760.)

 

 

FIFO

Ending Inventory at March 31, 2014

 

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Reference no: EM13999388

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