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Determine the ending inventory cost by the fifo method

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Reference no: EM13512591

The inventory information of a product is given below:

Jan. 1

Inventory

12 units

$15

Feb. 16

Purchase

8 units

16

Mar. 4

Purchase

15 units

18

Oct. 15

Purchase

10 units

20

After taking a physical count, we find that we have 14 units on hand. Determine the ending inventory cost by the (a) FIFO method, (b) LIFO method and (c) weighted average.

 

Reference no: EM13512591

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