Question

The convenience store Swam Mart, has a beginning inventory of 12 cans of cat food at a cost of $0.85 each. During the year, the store purchased four cans at $.095, six cans at $ 1.05, seven cans at $1.35 and eight cans at $1.50. By the end of the year, 18 cans were sold. Calculate the number of cans in ending inventory, The cost of ending inventory under LIPO, FIFO weighted average

Answer 1

add everything together then divide it by 2