3 3 Hull Company's record of transactions conceming part X for the month of April was as follows. Purchases Sales Quantity: Unit Cost: Quantity: Apr 1 (Balance on hand) 110 $5.00 Apr 5 290 Apr 4 420 5.20 Apr 12 200 Apr 11 280 5.30 Apr 27 310 Apr 18 5.40 5 3 200 0 Instructions: 1 (a) Compute the inventory at April 30 and the cost of goods sold during April on each of the following base: 2 Assume that periodic inventory records are kept. Carry unit costs to the nearest cent. 3 4 5 6 7 B 3 1 2 3 4 5 (1) First-in, First-out, (FIFO). 5 7 3 (2) Last-in, First-out, (LIFO) 45 46 (3) Average cost. 47 48 49 50 51 52 53 54 55 56 57 (b) If the perpetual inventory record is kept 58 59 (1) First-in, First-out, (FIFO). .60 61 62 63 64 65 66 67 68 69 70 71 72 (2) Last-in, First-out, (LIFO). 73 74 75 76 77 : G17 X fc B D E F 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 ) Average Cost 91 92 93 94 95 96 97 9 99 100 101 102 103 100 105 10 107 108 109 110 112 Cost Flow Assumption LIFO Sheets