The lavaca company began business with the purchase of 250 u

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Reference no: EM13499848

4. On July 1, the Lavaca Company began business with the purchase of 250 units of inventory for $21,625. During the month, Lavaca had the following inventory transactions:

Date
July 6 Purchased 100 units @ $75 per unit.
11 Sold 200 units.
17 Sold 85 units.
24 Purchased 100 units @ $125 per unit.
28 Purchased 50 units @ $110 per unit.
30 Sold 100 units.

Required:

Compute the cost of the inventory at the end of July under the following alternatives:

a. FIFO periodic
b. FIFO perpetual
c. LIFO periodic
d. LIFO perpetual
e. Weighted average (round unit costs to 2 decimal places)
f. Moving average (round unit costs to 2 decimal places)

Reference no: EM13499848

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