1a) Calculate average-cost per unit.

1b) From these data compute the ending inventory on each of the following bases. Assume that perpetual inventory records are kept in units only. (1) First-in, first-out (FIFO). (2) Last-in, first-out (LIFO). (3) Average-cost.

1c) If the perpetual inventory record is kept in dollars, and costs are computed at the time of each withdrawal, would the amounts shown as ending inventory in (1), (2), and (3) above be the same? What amount would be shown as ending inventory?

Problem 8-5 Some of the information found on a detail inventory card for Splish Inc. for the first month of operations is as follows Received Issued, No. of Units Balance, No. of Units Unit Cost No. of Units 1,700 500 1,600 600 1,300 200 2,000 700 2,800 1,000 Date 1,700 1,100 1,500 1,800 2,100 January2 $5.19 1,200 10 13 18 20 23 26 28 31 5.54 1,000 800 1,100 5.71 5.88 1,300 6.06 1,800