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jeka57 [31]
3 years ago
15

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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