Esplanade Company was formed December 1, 2009. The following information is available from Esplanade's inventory records for Product BAP.
January 1, 2010 (Beginning inventory): 600 units, unit cost $8.00
Purchases:
January 5, 2010: 1100 units, unit cost 9.00
January 25, 2010: 1300 units, unit cost 10.00
February 16, 2010: 800 units, unit cost 11.00
March 26, 2010: 600 units, unit cost 12.00
A physical inventory on March 31, 2010 shows 1500 units on hand.
Instructions:Prepare scheudles to compute the ending inventory at March 31,2010, under each of the following inventory methods: (a) FIFO. (b) LIFO. (c) Weighted average