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Question Periodic: Alternative cost flow Senca Co. began year with 2015 with 6,500 units of product in it January 1 inventory costing $35.00 each.
Periodic: Alternative cost flowSenca Co. began year with 2015 with 6,500 units of product in it January 1 inventory costing $35.00 each. It made successive purchare of its product in year 2015 as follows.The company uses a periodic inventory system. On December 31, 2015 a physical count reveals the 8,500 units of it product remain in inventory.Jan 4.... 11,500 units @33.00 each, May 18....13,400 units @ 32.00 each, July 9...11,000 units @29.00 each, Nov.21..7,600.00 units @ 27.00 each1. Compute the number and total cost of the units available for sali in year 2015.2. Computer the amounts assigned to the 2015 ending inventory and the cost of goods sold using (a) FIFO, (B) LIFO, and (C) Weight Average. (round all amounts to cents)
