Business, 01.04.2021 17:30 rayniqueamee2002
Calculate the value of ending inventory that would be reported on the balance sheet, under each of the following cost flow assumptions. (Round answers to 2 decimal places, e. g. 125.25.) (1) Specific identification method assuming: (i) The March 5 sale consisted of 1,000 liters from the March 1 beginning inventory and 1,280 liters from the March 3 purchase; and (ii) The March 30 sale consisted of the following number of units sold from beginning inventory and each purchase: 465 liters from March 1; 520 liters from March 3; 2,900 liters from March 10; 1,380 liters from March 20. (2) FIFO (3) LIFO
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Calculate the value of ending inventory that would be reported on the balance sheet, under each of t...
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