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All is correct, except the average-cost calculation at the very bottom for ending inventory. Sheridan Company's record of transactions concerning part X for the month
All is correct, except the average-cost calculation at the very bottom for ending inventory.
Sheridan Company's record of transactions concerning part X for the month of April was as follows. Sales April 5 @ @ 12 Purchases April 1 (balance on hand) 4 11 18 26 30 @ 260 560 460 360 760 360 460 360 1,120 150 27 $5.70 5.80 6.00 6.10 6.40 6.60 @ 28 @ @ (a1) Your answer is correct Calculate average-cost per unit. Assume that perpetual inventory records are kept in units only. (Round answer to 4 decimal places, eg. 2.7682.) Average cost per unit 6.1326 e Textbook and Media Attempts: 1 of 5 used Question Part Score 1.95/1.95 (a2) Your answer is partially correct. 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. (Round final answers to decimal places, e.g. 6,548.) (1) FIFO (2) LIFO (3) Average-cost Ending Inventory 4360 $ 3860 $Step by Step Solution
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