Calculate the ending inventory at November 31 and the cost of the units issued in November using each of the following methods:
a) First in first out (FIFO)
b) Last in first out (LIFO) and
c) Moving averageFIFO Received Issued Balance
date units unit cost total units unit cost total units unit cost totalPage 8
LIFO Received Issued Balance
date units unit cost total units unit cost total units unit cost totalAverage Received Issued Balance
date units unit cost total units unit cost total units unit cost total 24. The materials account of the McGree Company reflected the following changes during November:
Balance November 1 1100 units @ $13
Received November 7 500 units @ $14
Issued November 11 450 units
Received November 15 220 units @ $15
Issued November 19 350 units
Returned to storage November 20 70 units
Received November 23 200 units@16
Returned to vendor November 24 100 units
Issued November 28 600 units
Balance November 30 Calculate the ending inventory at November 31 and the cost of the units issued in November using each of the following methods:
a) First in first out (FIFO)
b) Last in first out (LIFO) and
c) Moving averageFIFO Received Issued Balance
date units unit cost total units unit cost total units unit cost totalPage 8
LIFO Received Issued Balance
date units unit cost total units unit cost total units unit cost totalAverage Received Issued Balance
date units unit cost total units unit cost total units unit cost total