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April 19, 2014

Homework Help: math

Posted by Anonymous on Thursday, November 17, 2011 at 1:37pm.

Marvin Company has a beginning inventory of 12 sets of paints at a cost of $1.50 each. During the year, the store purchased 4 sets at $1.60, 6 sets at $2.50 and 10 sets at $3.00. By the end of the year, 25 sets were sold. Calculated (a) the number of paint sets in stock and (b) the cost of ending inventory under LIFO, FIFO, and the weighted-average methods. Round to the nearest cent for the weighted average?

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