Loveland56
06.11.2019 •
Business
In its first month of operations, bethke company made three purchases of merchandise in the following sequence: (1) 300 units at $6, (2) 400 units at $7, and (3) 200 units at $8. assuming there are 360 units on hand, compute the cost of the ending inventory under the (a) fifo method and (b) lifo method. bethke uses a periodic inventory system.
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Ответ:
(1) $2,720
(2) $2,220
Explanation:
Given the following sequence:
300 units at $6, 400 units at $7 and 200 units at $8
(1) FIFO method
Ending inventory = 360 units
Cost of ending Inventory:
= 200 units at $8 + 160 units at $7
= 200 × $8 + 160 × $7
= 1,600 + 1,120
= $2,720
(2) LIFO method
Cost of ending Inventory:
= 300 units at $6 + 60 units at $7
= 300 × $6 + 60 × $7
= 1,800 + 420
= $2,220
Ответ: