Solve value of four bikes held as inventory at the end

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Reference no: EM132755807

Bike LTD purchased 10 bikes during January and sold 6 bikes, details of which are as follows:

January 1 Purchased 5 bikes @ $50 each
January 5 Sold 2 bikes
January 10 Sold 1 bike
January 15 Purchased 5 bikes @ 70 each
January 25 Sold 3 bikes

Problem 1: Calculate the value of 4 bikes held as inventory at the end of January using FIFO & AVCO method under periodical and perpetual inventory system?

Reference no: EM132755807

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