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Problem IV Inventory methods. Flynt Company was formed on December 1,2016. The following information is...

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Accounting

Problem IV Inventory methods. Flynt Company was formed on December 1,2016. The following information is available from
Flynt 's inventory record for Product X.
January 1,2017(beginning inventory)
Purchases:
January 5,2017
January 25,2017
February 16,2017
March 15,2017
A physical inventory on March 31,2017, shows 2,500 units on hand.
Instructions: Prepare schedules to compute the merchandise ending inventory at March 31,2017 and the Cost of Goods Sold for the
quarter ended on March 31,2027, under each of the following inventory methods:
(a) FIFO
(b)
LIFO
(c)
Weighted-average.
Show supporting computations in good form.
Problem IV Solution
FIFO
LIFO
Weighted Average
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