Financial Accounting Computation Of Inventory Assignment Homework Help
- November 30, 2017
- Posted by:
- Category: Accounting QA
Best UK USA UAE Australia Canada China Financial Accounting Computation Of Inventory Assignment Homework Help Service Online
Esplanade Company was formed on December 1, 2011. The following information is available from Esplanade’s inventory records for Product BAP.
Units | Unit Cost | |||
January 1, 2012 (beginning inventory) | 798 | $8.00 | ||
Purchases: | ||||
January 5, 2012 | 1,596 | 9.00 | ||
January 25, 2012 | 1,729 | 10.00 | ||
February 16, 2012 | 1,064 | 11.00 | ||
March 26, 2012 | 798 | 12.00 |
A physical inventory on March 31, 2012, shows 2,128 units on hand.
Prepare schedules to compute the ending inventory at March 31, 2012, under each of the following inventory methods. Assume Esplanade Company uses the periodic inventory method.
a.FIFO
ESPLANADE COMPANY | |||
Computation of Inventory for Product BAP | |||
BAP under FIFO Inventory Method | |||
March 31, 2012 | |||
Units | Unit Cost | Total Cost | |
March 26, 2012 | $ | $ | |
February 16, 2012 | |||
January 25, 2012 | |||
March 31, 2012, inventory | $ |
b.LIFO
ESPLANADE COMPANY | |||
Computation of Inventory for Product BAP | |||
BAP under LIFO Inventory Method | |||
March 31, 2012 | |||
Units | Unit Cost | Total Cost | |
Beginning inventory | $ | $ | |
January 5, 2012 | |||
March 31, 2012, inventory | $ |
c.Weighted average (Round weighted average cost to 2 decimal places, e.g. 2.25 and use this rounded amount for future calculations. Round the inventory on March to 0 decimal places, e.g. 1,250.)
ESPLANADE COMPANY | |||
Computation of Inventory for Product BAP | |||
BAP under Weighted Average Inventory Method | |||
March 31, 2012 | |||
Units | Unit Cost | Total Cost | |
Beginning inventory | $ | $ | |
January 5, 2012 | |||
January 25, 2012 | |||
February 16, 2012 | |||
March 26, 2012 | |||
$ |
Product Code: ACC841
Looking for Financial Accounting Computation Of Inventory Assignment Homework Help, please submit your details here with product code mentioned above.