ACC 205 Week 3 Exercise 2 Inventory valuation methods basic computations
Inventory valuation methods basic computations. The January beginning inventory of the White Company consisted of 300 units costing $40 each. During the first quarter, purchases were:
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Get Help Now!Date Quantity Cost
1/15 700 $45
1/31 1200 $48
2/12 800 $46
2/27 650 $51
Sales during the first quarter were.
Date Sold
1/19 500
2/2 600
2/13 500
2/28 100
The White Company uses a perpetual inventory system.
Using the White Company data, fill in the following chart to compare the results obtained under the FIFO, LIFO, and weighted-average inventory methods.
| FIFO | LIFO | Weighted Average | |
| Goods available for sale | $ | $ | $ |
| Ending inventory, March 31 | |||
| Cost of goods sold |
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