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question you are provided with the following information for barton inc barton inc u 4290864


You are provided with the following information for Barton Inc. Barton Inc. uses the periodic method of accounting for its inventory transactions. March 1 Beginning inventory 2,065 liters at a cost of 59C per liter. March 3 Purchased 2,590 liters at a cost of 63 per liter. March 5 sold 2,355 liters for $1.02 per liter. March 10 Purchased 4,065 liters at a cost of 70 per liter. March 20 Purchased 2,420 liters at a cost of 77 per liter. March 30 Sold 5,280 liters for $1.33 per liter. v (a1) Calculate the value of ending inventory that would be reported on the balance sheet, under each of the following cost flow methods. (Round answers to decimal places, e.g. 1250.) (1) Specific identification method assuming: (i) The March 5 sale consisted of 1,000 liters from the March 1 beginning inventory and 1,355 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: 470 liters from March 1; 510 liters from March 3; 2,885 liters from March 10; and 1,415 liters from March 20. (2) FIFO (3) LIFO Ending inventory Specific identification FIFO LIFO

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