Contemporary Mathematics for Business & Consumers 8th Edition by Robert Brechner,Geroge Bergeman

Exercise 1

When the merchandise manager for Ritz Fashions (Exercise 3) took physical inventory on December 31, 128 silk ties remained in inventory.
a. Calculate the dollar value of the 128 ties by using FIFO.

b. Calculate the dollarvalue of the 128 ties by using LIFO.

c. Calculate the dollar value of the 128 ties by using the average cost method.