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Estimating ending inventory using the conventional method (average cost and the LCM approximation).

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Kiddie World uses a periodic inventory system and the retail inventory method. The following data are available for Kiddie World for the quarter ending September 30, 2011:

Please see the attached file.

Estimate ending inventory using the conventional method (average cost and the LCM approximation).

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In this solution we estimate the ending inventory using the conventional method.

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Week 4-2

Kiddie World uses a periodic inventory system and the retail inventory method. The following data are available for Kiddie World for the quarter ending September 30, 2011:
...

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