6. Jones Company was formed on December 1, 2019. The following information is available from...
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6. Jones Company was formed on December 1, 2019. The following information is available from Jones's inventory record for Product X. Units Unit Cost January 1, 2020 (beginning inventory) 2,400 $18.00 Purchases: January 5, 2020 3,900 $20.00 January 25, 2020 3,600 $21.00 February 16, 2020 1,500 $22.00 March 15, 2020 2,700 $23.00 A physical inventory on March 31, 2020, shows 3,000 units on hand. Instructions Prepare schedules to compute the ending inventory at March 31, 2020, under each of the following inventory methods: (a) FIFO. (b) LIFO. (C) Weighted average
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