inventory computation using different cost flows the webster store shows the followi 692181
Inventory Computation Using Different Cost Flows
The Webster Store shows the following information relating to one of its products.
|
Inventory, January 1 |
300 units @ $1750 |
|
Sales, January 8 |
200 units |
|
Purchases, January 10 |
900 units @ $1800 |
|
Sales, January 18 |
800 units |
|
Purchases, January 20 |
1,200 units @ $1950 |
|
Sales, January 25 |
1,000 units |
What are the values of ending inventory under a periodic inventory system assuming a (1) FIFO, (2) LIFO, and (3) average cost flow? (Round unit costs to three decimal places.)