Danielle Born AC210 October 2, 2013 Week 1 Assignment 9–34. Periodic inventory system 1. FIFO: Most recent purchase ........................ 350 units @ $19.50 = $ 6,825 2. LIFO: Oldest costs ........................................ 250 units @ $17.00 = $ 4,250 Next oldest costs ................................ 100 @ 18.00 = 1,800 350 units $ 6,050 3. Average: Beginning inventory ........................... 250 units @ $17.00 = $ 4,250 Purchases ..................…
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