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    weatherford4's Avatar
    weatherford4 Posts: 5, Reputation: 1
    New Member
    		  
    #1

    Sep 16, 2007, 02:37 PM
    Fifo and Lifo!
    date units purchased total cost of purchased
    Jan 1 125 units 1,000
    Jan 8 150 units 1,150
    Jan 18 225 units 825
    Jan 30 200 units 750



    Using lifo inventory method , the value of the ending inventory on jan 31 is:

    a.1,073
    b.1,511
    c.1,575
    d.2,242


    using the avg cost method, allocated to the ending inventory on jan 31st is:
    a. 2,250
    b.1,703
    c.1,596
    d.1,389

    using the fifo inventory method the amount allocated to cost ofgoods sold for jan 31st is:

    a.1,117
    b.1,511
    c.1,672
    d.2,608


    I have calculated the 3.75 for each unit in the ending inventory but every calculation I get doesn't match any of the answers! I'm stuck! Help me please!
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
    Ultra Member
    		  
    #2

    Sep 16, 2007, 03:22 PM
    Please show you attempted work/calculations so we can review them for you.
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