Blue Companys record of transactions for the month of April was as follows. Purchases Sales April 1 (balance on hand) 1,560 @ $6.00 April 3 1,300 @ $10.00 4 3,900 @ 6.08 9 3,640 @ 10.00 8 2,080 @ 6.40 11 1,560 @ 11.00 13 3,120 @ 6.50 23 3,120 @ 11.00 21 1,820 @ 6.60 27 2,340 @ 12.00 29 1,300 @ 6.79 11,960 13,780

Assuming that periodic inventory records are kept in units only, calculate the average-cost per unit. (Round answer to 2 decimal places, e.g. 2.76.) Average-cost per unit $ 6.35 per unit

Assuming that periodic inventory records are kept in units only, compute the inventory at April 30 using LIFO and average-cost. (Round answer to 0 decimal places, e.g. 2,760.)

LIFO $ 12250

Average-cost $ 11557

Assuming that perpetual inventory records are kept in dollars, determine the inventory using (1) FIFO and (2) LIFO. (Round answer to 0 decimal places, e.g. 2,760.)

(1) FIFO (2) LIFO Inventory $ $ eTextbook and Media Compute cost of goods sold assuming periodic inventory procedures and inventory priced at FIFO. (Round answer to 0 decimal places, e.g. 2,760.) Cost of goods sold $ eTextbook and Media In an inflationary period, which inventory methodFIFO, LIFO, average-costwill show the highest net income? inventory method will show the highest net income.