(Answered)-Need some assistance if figuring out the calculations to the - (2025 Updated Original AI-Free Solution

Discipline:

Type of Paper:

Academic Level: Undergrad. (yrs 3-4)

Paper Format: APA

Pages: 5 Words: 1375

Buy For $11.00 Order Custom Paper

Buy For $11.00

Question

Need some assistance if figuring out the calculations to the question below

Calculate the ending inventory under each of the following methods given the information below about purchases and sales during the year. Assume a periodic inventory system.

April 1 Beginning inventory 20 units @ $30

?????????11 Purchases 70 units @ $32

?????????21 Purchases 50 units @ $35

Sales for April: 115 units

a. ________ FIFO

b. ________ LIFO

c. ________ Weighted-average