Carol Garcia Company was formed on December 1, 2024. The following information is available from Garcia's inventory records for Product BAP. January 1, 2025 (beginning inventory) Purchases: January 5, 2025 January 25, 2025 February 16, 2025 March 26, 2025 Purchases January 5, 2025 Units Beginning Inventory 1,320 Ending Inventory 2,640 2,860 1,760 1,320 Unit Cost $7 A physical inventory on March 31, 2025, shows 3,520 units on hand. Units 8 Prepare schedule to compute the ending inventory at March 31, 2025, under LIFO inventory method. CAROL GARCIA COMPANY COMPUTATION OF INVENTORY FOR PRODUCT BAP UNDER LIFO INVENTORY METHOD March 31, 2025 9 3.520 10 11 Unit Cost 7 Total Cost 22,880 4,620 27,500
Carol Garcia Company was formed on December 1, 2024. The following information is available from Garcia's inventory records for Product BAP. January 1, 2025 (beginning inventory) Purchases: January 5, 2025 January 25, 2025 February 16, 2025 March 26, 2025 Purchases January 5, 2025 Units Beginning Inventory 1,320 Ending Inventory 2,640 2,860 1,760 1,320 Unit Cost $7 A physical inventory on March 31, 2025, shows 3,520 units on hand. Units 8 Prepare schedule to compute the ending inventory at March 31, 2025, under LIFO inventory method. CAROL GARCIA COMPANY COMPUTATION OF INVENTORY FOR PRODUCT BAP UNDER LIFO INVENTORY METHOD March 31, 2025 9 3.520 10 11 Unit Cost 7 Total Cost 22,880 4,620 27,500
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter8: Inventories: Special Valuation Issues
Section: Chapter Questions
Problem 14RE: Refer to the information provided in RE8-4. If Paul Corporations inventory at January 1, 2019, had a...
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