Ehrhart Appliance uses a perpetual inventory system

Ehrhart Appliance uses a perpetual inventory system. For its flat-screen television sets, the January 1 inventory was 3 sets at $600 each. On January 10, Ehrhart purchased 6 units at $660 each. The company sold 2 units on January 8 and 5 units on January 15.

Instructions

Compute the ending inventory under (a) FIFO, (b) LIFO and (c) Moving-average cost.

Solution

Ehrhart Appliance
FIFO Method

Ehrhart Appliance
LIFO Method

Ehrhart Appliance
Moving-average cost Method

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Problem-26: Inventories

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Inventories

Problem-26: Inventories

Instructions

Solution

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