Biology Forums - Study Force

A hardware merchant using the LIFO method of valuing inventory has 200 hammers remaining in inventory. The merchant purchased hammers over a three-month period as follows: 120 purchased at 3.50 on April 1, 150 purchased at 3.62 on May 1, and 150 purchased at 3.72 on June 1 . Compute the value of the ending inventory of hammers at LIFO cost.

Q. 2

Bill Pierson buys a 125-foot roll of latex tubing for 35 . Bill cuts the tubing into shorter pieces and resells all of it for a total of 57.50 . Compute Bill's profit per foot. (Round to the nearest cent.)

Q. 3

A hardware merchant using the FIFO method of valuing inventory has 300 hammers remaining in inventory. The merchant purchased hammers over a three month-period as follows: 120 purchased at 3.50 on April 1, 150 purchased at 3.62 on May 1, and 150 purchased at 3.72 on June 1 . Compute the value of the ending inventory of hammers at FIFO cost.

Q. 4

A hardware store sells rubber tubing by the foot. If a seventy-five-foot roll of tubing eventually sells for a total of 54, how much did the store charge per foot? (Round to the nearest cent.)

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This is very helpful, my teacher this year is not good