9:45 Aa 1 QD VECCHICCO why? P8.4 (LO 3) Excel (Compute FIFO, LIFO, and Average-Cost) Hull Company's record of transactions concerning part X for the month of April was as follows. Purchases Sales April (balance on 100 @ April 300 1 hand) $5.00 400 @ 5.10 300 @ 5-30 200 @ 5-35 600 @ 5.60 200 @ 5.80 Instructions a. Compute the inventory at April 30 on each of the following bases. Assume that perpetual inventory records are kept in units only. Carry unit costs to the nearest cent. 1. First-in, first-out (FIFO). 2. Last-in, first-out (LIFO). 3. Average-cost. b. If the perpetual inventory record is kept in dollars and costs are computed at the time 8-44 eader Contents Notebook Bookmarks More 9:45 Aa 40 Q April was as follows. Purchases April (balance on 1 hand) Sales April 300 100 @ $5.00 400 @ 5.10 300 @ 5-30 200 @ 5-35 600 @ 5.60 200 @ 5.80 Instructions a. Compute the inventory at April 30 on each of the following bases. Assume that perpetual inventory records are kept in units only. Carry unit costs to the nearest cent. 1. First-in, first-out (FIFO). 2. Last-in, first-out (LIFO). 3. Average-cost. b. If the perpetual inventory record is kept in dollars, and costs are computed at the time of each withdrawal, what amount would be shown as ending inventory in (1), (2), and (3) above? (Carry average unit costs to four decimal places.) 8-44 Reader Contents Notebook Bookmarks More