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3 years ago

Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods

Business

2 answers:

SIZIF [17.4K]3 years ago

7 0

Answer:

LIFO ending inventory $ 544.00

Weighted average: $ 565.44‬

FIFO ending invetory: $ 590.00

Explanation:

weighted-average:

1,449 / 41 = 35,34

Ending Inventory

16 x 35.34

LIFo we pick the first 16 units as the latest were sold:

8 units at $ 33 = $ 264

8 units at $ 35 = $ 280

Total ending inventory $ 544

FIFo we pick the last as the first one are the first being sold

15 units at 37 = 555

1 unit at 35 = 35

total ending 590

Kitty [74]3 years ago

3 0

Answer:

a) FIFO

Inventory = $590

b) LIFO

Inventory = $544

C) WAM

Inventory = $565,46 = $565

Explanation:

a) FIFO

Inventory = $555 +$ 35 = $590

Dec purchase = $555

Aug 7 = $35

b) LIFO

Inventory = 280 +264 = $544

Jan = $264

AUG = 8 * $35 = $280

C) WAM

Inventory

WAM = $1449/41 = $35,34 *16 = $565,46

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Answer:

Explanation:

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3 years ago

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Answer:

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