What is the inventory turnover ratio using each of the following methods:

Quarter	Units Purchased	Cost per Unit	Total
1	200	$11	$2,200
2	300	12	3,600
3	300	13	3,900
4	200	14	2,800
	1,000		$12,500

Inventory at the beginning of the 1st quarter: 400 units at $10 per unit.
Sales for the fiscal year: 800 units at $15 per unit.

1. FIFO Method

2. Average Cost Method

3. LIFO Method

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ekkarill92 answered 1 year ago

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