The Sanberg Company had 321 units on hand at the beginning of the year, with a unit cost of $5.00....

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The Sanberg Company had 321 units on hand at the beginning of the year, with a unit cost of $5.00. The number of units purchased and the unit cost and the number of units sold during the year are shown. What would be the value of the ending inventory of 346 units based on the (a) average cost; (b) first-in, first-out; and (c) last-in, first-out costing methods? Round interim calculations and final answers to two decimal places.




Date
 Units

Purchased
 Unit

Cost
 Units

Sold
 Units

on Hand
Jan. 1   $5.00   321
Feb. 2     171 150
Apr. 16 184 $5.13   334
June 10 271 $5.28   605
Aug. 5     289 316
Oct. 12 256 $5.18   572
Nov. 27     226 346
    • 11 years ago
    • 999999.99
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