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Problem 8-5 (Part Level Submission) Some of the information found on a detail inventory card...

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Accounting

Problem 8-5 (Part Level Submission)

Some of the information found on a detail inventory card for Martinez Inc. for the first month of operations is as follows.

Received

Date

No. of Units

Unit Cost

Issued, No. of Units

Balance, No. of Units
January 2 1,600 $4.20 1,600
7 1,100 500
10 1,000 4.48 1,500
13 900 600
18 1,400 4.62 700 1,300
20 1,100 200
23 1,700 4.76 1,900
26 1,200 700
28 2,000 4.90 2,700
31 1,700 1,000

Ending inventory

1. FIFO:

2. LIFO:

3. Average-cost:

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