Calculate The Ending Inventory Of Drums For December

Calculate The Ending Inventory Of Drums For December Of The Prior Ye

Calculate the ending inventory of drums for December of the prior year, and for January and February. Round your answers to the nearest whole drum.

Ending inventory for December: _________________ drums

Ending inventory for January: _________________ drums

Ending inventory for February: _________________ drums

Paper For Above instruction

The assignment requests calculating the ending inventory of drums for December of the previous year, as well as for January and February of the upcoming year. The answers should be rounded to whole drums. Exact numerical results are to be provided for each of these months' ending inventories.

Solution

To accurately determine the ending inventories of drums for the months specified, it is crucial to understand the underlying inventory valuation method and relevant data such as beginning inventory, purchases, sales, and inventory policies. Since the specific data sets such as beginning inventory, purchases made, sales units, and inventory policies have not been provided, the calculations will be based on typical inventory management principles, such as the first-in, first-out (FIFO) or weighted-average method, and assumptions where necessary.

Assuming FIFO inventory valuation, the ending inventory is comprised of the most recent purchases. Typically, the ending inventory for December of the prior year would be based on the purchases and sales during that period. For example, if the beginning inventory at the start of the year was known, along with the purchases made in December, and the units sold, we could compute the ending inventory accordingly.

Step-by-step calculation approach:

  1. Identify beginning inventory for December of the prior year (if available).
  2. Determine purchases made during December of the prior year.
  3. Subtract units sold in December from the total available units to find December ending inventory.
  4. Similarly, use January and February sales data along with opening inventory and purchases in those months to compute the ending inventory for each month.

Without the specific figures, the calculations cannot be numerically completed here. However, the general approach involves:

  • Ending Inventory = Beginning Inventory + Purchases during the month - Units Sold during the month (FIFO valuation).

Assuming this approach, and once the actual data (purchase quantities, sales units) are provided, the rounded whole-number results for December, January, and February can be calculated accordingly.

References

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