Question
In: Accounting
In its first month of operations, Bethke Company made three purchases of merchandise in the following...
In its first month of operations, Bethke Company made three
purchases of merchandise in the following sequence: (1) 161 units
at $14, (2) 555 units at $15, and (3) 122 units at $16.
Assuming there are 353 units on hand, compute the cost of the
ending inventory under the FIFO method and LIFO method. Bethke uses
a periodic inventory system.
|
FIFO |
LIFO |
|||
| The cost of the ending inventory | $ | $ |
Solutions
Expert Solution
Workings and FIFO Method:
LIFO Method and Final Answer:
ekkarill92 answered 2 years agoRelated Solutions
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$Enter a dollar amount
$Enter...
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Date
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2,100 @ $3.60
2,100 units
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$
Ending inventory
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January:
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14
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February:
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16 units
September:
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