Question

Being inventory of 12 sets of paints at a cost of $1.50 each. During the year the store purchased 4 sets at $1.60, 6 sets at $2.20, 6 sets at $2.50, and 10 sets at $3.00. By the end of the year, 25 sets were sold. Caculate the number of paint sets in stock and the cost of ending inventory under LIFO, FIFO and the weighted average method.Round to nearest cent for weight average.

Answer 1

I feel really bad now. No one has responded to this question in years. Did you ever get your question answered? I mean, I'd love to answer your question but math isn't my thing.

Answer 2

12.00