Problem:
Basic data regarding purchases and sales:
Date Activity Units Unit costa
2/1 Begin invent 600 1.50
2/9 Purchase 1300 1.70
2/15 purchase 1500 1.90
2/24 purchase 1800 2.05
At the end of the month the company had 1800 units on hand. Calculate:
1- cost of goods available for sale
2-what is the ending inventory under the weighted average method?
3-what is the ending inventory under the LIFO method?
4-What is the ending inventory under the FIFO method?