22 Jul DETERMINE THE COST OF THE INVENTORY ON AUGUST 31 2012 BY THE FIRST-IN FIRST-OUT METHOD.
Bulldog Appliances uses the periodic inventory system. Details regarding the inventory of appliances Show more Bulldog Appliances uses the periodic inventory system. Details regarding the inventory of appliances at September 1 2011 purchases invoices during the next 12 months and the inventory count at August 31 2012 are summarized as follows: 1. Determine the cost of the inventory on August 31 2012 by the first-in first-out method. Present data in columnar form using the following headings: Model Quantity Unit Cost Total Cost If the inventory of a particular model comprises one entire purchases plus a portion of another purchase acquired at a different unit cost use a separate line for each purchase. 2. Determine the cost of the inventory on August 31 2012 by the last-in first-out method following the procedures indicated in (1). 3. Determine the cost of the inventory on August 31 2012 by the average cost method using the columnar headings indicated in (1). Show less
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