Bonita Corp. had 1,800 units of part M.O. on hand May 1, 2020, costing $27 each....

Bonita Corp. had 1,800 units of part M.O. on hand May 1, 2020, costing $27 each. Purchases of part M.O. during May were as follows. Units Units Cost May 9 2,300 $29 17 3,800 30 26 1,300 31 A physical count on May 31, 2020, shows 2,300 units of part M.O. on hand. Using the FIFO method, what is the cost of part M.O. inventory at May 31, 2020? Using the LIFO method, what is the inventory cost? Using the average-cost method, what is the inventory cost? (Round average cost per unit to 2 decimal places, e.g. 15.25 and final answers to 0 decimal places, e.g. 1,620.) FIFO LIFO Average Cost Inventory Cost $enter a dollar amount rounded to 0 decimal places $enter a dollar amount rounded to 0 decimal places $enter a dollar amount rounded to 0 decimal places.

Expert Solution

ekkarill92 answered 2 years ago

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