find the inventory value using the weighted average method, the fifo method, and the lifo method.\npurchases\…

find the inventory value using the weighted average method, the fifo method, and the lifo method.\npurchases\nbeginning inventory: 25 units at $8\njune: 16 units at $9\naugust: 15 units at $10\nnow in inventory: 20 units\nfind the inventory value using the weighted average method.\n$176.40\n(round the final answer to the nearest cent. round all intermediate values to the nearest cent.)\nfind the inventory value using the fifo method.\n$□

find the inventory value using the weighted average method, the fifo method, and the lifo method.\npurchases\nbeginning inventory: 25 units at $8\njune: 16 units at $9\naugust: 15 units at $10\nnow in inventory: 20 units\nfind the inventory value using the weighted average method.\n$176.40\n(round the final answer to the nearest cent. round all intermediate values to the nearest cent.)\nfind the inventory value using the fifo method.\n$□

Answer

Explanation:

Step1: Calculate total units and total cost

Total units = (25 + 16+15=56) units. Total cost = (25\times8 + 16\times9+15\times10=200 + 144+150 = 494).

Step2: Use FIFO method

FIFO (First - In - First - Out) means we assume the first units purchased are the first ones sold. We have 20 units in inventory. The last purchases are 15 units at $10 (August) and (20 - 15=5) units from the June purchase (at $9). Inventory value=(15\times10+5\times9) (=150 + 45)

Answer:

(195)