Alternative Inventory Methods Frate Company was formed on December 1, 2018, and uses the periodic inventory system. The following information is available from Frate's inventory records for Product Ply: Units Unit Cost
January 1, 2019
(beginning inventory) 1,300 $7.00
Purchases:
January 6, 2019 2,000 8.00
January 25, 2019 1,700 8.50
February 17, 2019 1,100 9.00
March 27, 2019 1,400 9.50
A physical inventory on March 31, 2019, shows 2,600 units on hand.
Required:
Prepare schedules to compute the ending inventory at March 31, 2019, under each of the following inventory methods.
1. FIFO
2. LIFO
3. Weighted average