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Lisa Company had 131 units in beginning inventory at a total cost-(Answered)

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Question

Lisa Company had?131?units in beginning inventory at a total cost of $15,065. The company purchased?262?units at a total cost of $38,776. At the end of the year, Lisa had?105?units in ending inventory.


(a)


Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost.(Round average-cost per unit and final answers to 0 decimal places, e.g. 1,250.)


LIFO

 

Opening Inventory

 

Purchased during the preiod

 

Total Inventory

 

Sold

 

Ending Inventory (105 x 115)

 


 

Units Cost Per Unit Cost

 

131 15065

 

115

 

262 38776

 

148

 

393 53841

 

288

 

105 12075

 


 

FIFO

 

Opening...

 

Paper#9256928 | Written in 27-Jul-2016

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