here are two problems this week. Click on the tab at the bottom of the spreadsheet to see problem 2.

here are two problems this week. Click on the tab at the bottom of the spreadsheet to see problem 2.
Compute the ending inventory using the FIFO and the weighted average method below. These are the same transactions used in week 3 homework:
units
1-Jan Beginning inventory
14-Jan Bought
5-Feb Sold
22-Feb Bought
7-Mar Sold
15-Mar Sold
5-Apr Bought
10-Apr Sold
12-Apr Sold
22-Apr Sold
4-May Sold
10-May Bought
25-May Sold

price
3,500 $
1,500 $
1,000
2,000 $
1,500
2,000
1,000 $
800
800
500
600
2,000 $
500

3.00
3.15
3.20

3.25

3.30

FIFO method (scroll down for Weighted Average entry area)
Purchased
Date
units
cost
total
1-Jan

Sold
units

units

cost

total

cost

Balance
units
cost
3500 $ 3.00 $

total
10,500.00

total

Balance
units
cost
3500 $ 3.000 $

total
10,500.00

Weighted Average Method
Date
1-Jan

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