Prepare schedule to compute the ending inventory at march

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Reference no: EM131974066

Problem

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

	Units	Unit Cost
January 1, 2017 (beginning inventory)	678	$ 6.00
Purchases:
January 5, 2017	1,356	7.00
January 25, 2017	1,469	8.00
February 16, 2017	904	9.00
March 26, 2017	678	10.00

A physical inventory on March 31, 2017, shows 1,808 units on hand.

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

Reference no: EM131974066

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