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compute the ending inventory as of 2010 december 31 assuming use of perpetual invent 626023

Following are data for Dandy Company for the year 2010:

 

Units

Unit Cost

Merchandise Inventor y,

700

@ $20.4

1-Jan

 

0

Purchases:

   

February 2

500

@21

   

@

Apr i l 5

1,000

@24

June 1 5

600

@ 2/ .00

30-Sep

700

@ 30.00

28-Nov

900

@ 31.20

Sales :

4,400

 

March 5

1,200

 

18-Jul

800

 

August 12

900

 

October 15

3,300

 

a. Compute the ending inventory as of 2010 December 31, assuming use of perpetual inventory procedure, under each of the following methods: (1) FIFO, (2) LIFO, and (3) weighted-average (carry unit cost to four decimal places and round total cost to nearest dollar).

b. Compute the ending inventory as of 2010 December 31, assuming use of periodic inventory procedure, under each of the following methods: (1) FIFO, (2) LIFO, and (3) weighted-average.

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