Question

please help with this accounting problem!

Question 5 View Policies Current Attempt in Progress Ivanhoe Company uses a periodic inventory system. Its records show the following for the month of May, in which 70 units were sold. Date Explanation May 1 Inventory Unit Cost $10 11 12 15 Units 33 27 40 100 Purchase Total Cost $330 297 480 $1,107 24 Purchase Total Calculate the weighted average unit cost. (Round answer to 3 decimal places, e.g. 5.125.) Weighted average unit cost $ e Textbook and Media Calculate the ending inventory at May 31 using the FIFO, LIFO and a verage 9 (Round answers to 0 decimal places, e.g. 125.) FIFO AVERAGE-COST The ending inventory at May 31 $ e Textbook and Media Attentioned

Answer 1

Answer 10+11+12 a. Weighted arg cost - Total cost OR No of units = 1107 OR 33 103 z (11.07 OR LIU approximately 95 $ 11 per unit. Ending Sorentory wnits - 30 units 1. Ending rentory at 3st may a) FIFO method. - firstin Forstout. 50, may ist units, may isth units are to units of may a4th are sold out only purchare made on may 24th are left out .: Mrentory = 30x12 & 3608] 6) LIFO method - Last in firstout tart units are sold out fort to be assumed. is only opening nentory of may ist units are left out i mrentory z 30x10 = (3003] c) weighted arg cost method. morentory atendy weighted angiost => 30% 11 2 330]