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Alternative Inventory Methods Frate Company was formed on December 1, 2015, and uses the periodic...

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Alternative Inventory Methods Frate Company was formed on December 1, 2015, and uses the periodic inventory system. The following information is available from Frate's inventory records for Product Ply: Units Unit Cost January 1, 2016 (beginning inventory) Purchases: 4,700$11.00 January 6, 2016 January 25, 2016 February 17, 2016 March 27, 2016 5,400 5,100 4,500 4,800 12.00 12.50 13.00 13.50 A physical inventory on March 31, 2016 shows 9,400 units on hand. Required: For each method, enter your answers in chronological order. Prepare schedules to compute the ending inventory at March 31, 2016, under each of the following inventory methods: (For the weighted average method, round the average cost per unit to two decimal places.) 1. FIFO FRATE COMPANY

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