Shania Twain Company was formed on December 1, 2013. The following information is available from Twain's inventory records for Product BAP.
|
|
Units
|
|
Unit Cost
|
January 1, 2014 (beginning inventory)
|
|
850
|
|
$ 8
|
Purchases:
|
|
|
|
|
January 5, 2014
|
|
1,699
|
|
9
|
January 25, 2014
|
|
1,841
|
|
10
|
February 16, 2014
|
|
1,133
|
|
11
|
March 26, 2014
|
|
850
|
|
12
|
A physical inventory on March 31, 2014, shows 2,266 units on hand.
(a) Prepare schedules to compute the ending inventory at March 31, 2014, under FIFO inventory methods. (Round answer to 0 decimal places, e.g. 2,760.)
|
|
FIFO
|
Ending Inventory at March 31, 2014
|
|
$![https://edugen.wileyplus.com/edugen/art2/common/pixel.gif](file:///C:/Users/EMIE03/AppData/Local/Temp/msohtmlclip1/01/clip_image001.gif)
|