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A)Calculate average-cost per unit.Assume that perpetual inventory records are kept in units only. B)Compute the inventory at April 30 on each of the following bases.
A)Calculate average-cost per unit.Assume that perpetual inventory records are kept in units only.
B)Compute the inventory at April 30 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.
C)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 under (1) FIFO, (2) LIFO and (3) Average-cost?
Blossom Company's record of transactions concerning part X for the month of April was as follows. Purchases April 1 (balance on hand) 4. 420 @ $7.30 720 @ 7.40 Sales April 5 620 12 520 27 1,440 28 150 11 7.70 18 620 @ 520 @ 920 @ 26 30 7.80 8.20 8.50 520 @Step by Step Solution
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