Sentaro Company sells luxury clothing goods. The following information is available from the companys inventory record for Product X
Date Units Unit Cost
January Beginning inventory $
January Purchases $
January Purchases $
February Purchases $
March Purchases $
A physical inventory on March shows units on hand.
Instructions:
a Assume the company uses the FIFO method, calculate the amount assigned to ending inventory on hand at March Show computations
b Assume the company uses the weighted average method, calculate the amount assigned to ending inventory on hand at March Show computations c Under which method would Net Income for the company be highest, and why?
