Solution-Prepare schedule to compute the ending inventory

Prepare schedule to compute the ending inventory

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Reference no: EM131768968

Ivanhoe Company was formed on December 1, 2016. The following information is available from Ivanhoe's inventory records for Product BAP.

	Units	Unit Cost
January 1, 2017 (beginning inventory)	720	mce_markernbsp;8.00
Purchases:
January 5, 2017	1,440	9.00
January 25, 2017	1,560	10.00
February 16, 2017	960	11.00
March 26, 2017	720	12.00

A physical inventory on March 31, 2017, shows 1,920 units on hand

Prepare schedule to compute the ending inventory at March 31, 2017, under FIFO inventory method.

Reference no: EM131768968

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Prepare schedule to compute the ending inventory

Reference no: EM131768968

Reference no: EM131768968

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