1a) Assuming that periodic inventory records are kept in units only, compute the inventory at April 30 using LIFO

1b) Assuming that perpetual inventory records are kept in dollars, determine the inventory using FIFO and LIFO.

1c) Compute cost of goods sold assuming periodic inventory procedures and inventory priced at FIFO.

Exercise 8-11 Teal Company's record of transactions for the month of April was as follows. Purchases Sales April 3 625 $11.00 9 1,750 @ 11.00 11 75012.00 23 1,500@ 12.00 27 1,125@ 13.00 April 1 (balance on hand) 750 $5.00 A 4 8 13 21 29 1,875@ 5.07 1,000 5.36 1,500 5.56 875@ 5.66 625 5.86 5,750 6,625