Frate Company was formed on December 1, 2018, and uses the periodic inventory system. The...
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Frate Company was formed on December 1, 2018, and uses the periodic inventory system. The following information is available from Frate's inventory records for Product Ply: A physical inventory on March 31,2019 , shows 1,600 units on hand. Required: Prepare schedules to compute the ending inventory at March 31, 2019, under each of the following inventory methods. For each method, enter your answers in chronological order. Round your unit cost answers to two decimal places. 1. FIFO 3. Weighted average (For the weighted average method, round the average cost per unit to two decimal places.) FRATE COMPANY Computation of Inventory Under Weighted Average
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