Acc422 Intermediate Accounting:  E8-15 Esplanade Company was formed on December 1

Acc422 Intermediate Accounting: E8-15 Esplanade Company was formed on December 1

Acc422 Intermediate Accounting

E8-15 (FIFO, LIFO, Average Cost Inventory)
Esplanade Company was formed on December 1, 2010. The following information is available from Esplanade's inventory records for Product BAP.
Units Unit Cost Units Unit Cost
January 1, 2010 (beginning inventory) 600 8.00
Purchases:
January 5, 2010 1,100 9.00
January 25, 2010 1,300 10.00
February 6, 2010 800 11.00
March 26, 2010 600 12.00
A physical inventory on March 31, 2010, shows 1,500 units on hand.

Required:
Prepare schedules to compute the ending inventory at March 31, 2010, under each of the following inventory methods. Assume Esplanade Company uses the periodic inventory method.
(a) FIFO
(b) LIFO
(c) Weighted average
Acc422 Intermediate Accounting: E8-15 Esplanade Company was formed on December 1
.XLSX file (11.9KB)
$15
Total price:
$15