inventory computation using different cost flows the webster store shows the followi 692181

Aug 30, 2021 | Uncategorized

Inventory Computation Using Different Cost Flows

The Webster Store shows the following information relating to one of its products.

Inventory, January 1                                                   

300 units @ $1750

Sales, January 8                                                      

200 units

Purchases, January 10                                                   

900 units @ $1800

Sales, January 18                                                     

800 units

Purchases, January 20                                                  

1,200 units @ $1950

Sales, January 25                                                     

1,000 units

What are the values of ending inventory under a periodic inventory system assuming a (1) FIFO, (2) LIFO, and (3) average cost flow? (Round unit costs to three decimal places.)