Yates company uses the periodic inventory system to account

Reference no: EM13578966

Yates Company uses the periodic inventory system to account for inventories. Information related to Yates Company's inventory at October 31 is given below: October 1 Beginning inventory 400 units @ $10.00 = $ 4,000 October 8 Purchase 800 units @ $10.40 = 8,320 October 16 Purchase 600 units @ $10.80 = 6,480 October 24 Purchase 200 units @ $11.60 = 2,320...Total units and cost 2,000 units, $21,120...Instructions: 1. Show computations to value the ending inventory using the FIFO cost assumption if 300 units remain on hand at October 31. 2. Show computations to value the ending inventory using the weighted-average cost method if 300 units remain on hand at October 31. 3. Show computations to value the ending inventory using the LIFO cost assumption if 300 units remain on hand at October 31.

Reference no: EM13578966

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