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    Vita-Rite Vitamin Co. LIFO FIFO Weighted Average Cost method for costing inventory

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    Excel spreadsheet including calculations.

    Details: Vita-Rite Vitamin Company had a series of inventory transactions that need to be reported. Calculate the cost of ending inventory using the LIFO, FIFO, and average cost methods.

    Use the Periodic method for all 3 calculations.
    show the answer for each method

    I have attached the Excel file. But if it doesn't open here is the info.

    Vita-Rite Vitamin Co.
    Inventory History

    Date Units Purchased Price Purchased Units Sold Unit Balance

    12/27/2004 2000 $14.50 5700
    12/26/2004 2100 3700
    12/24/2004 2500 $14.25 5800
    12/18/2004 1500 $14.10 3300
    12/16/2004 1800 $14.05 1800

    They start adding from the oldest dates on up. First purchase is 1800 then 2nd is 1500 = 3300 and so on.

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    https://brainmass.com/business/inventory/lifo-fifo-weighted-average-cost-method-costing-inventory-94922

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    Solution Summary

    Computations shown for the WACC method for costing inventory.

    $2.19

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