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Accounting

Hiroyuki Appliance uses a perpetual inventory system. For its fl at-screen television sets, the January 1 inventory was 3 sets at $600 each. On January 10, Hiroyuki purchased 6 units at $660 each. The company sold 2 units on January 8 and 4 units on January 15.

Instructions

Compute the ending inventory under

(1) FIFO,
(2) LIFO, and
(3) Moving-average cost.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91890493

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