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Bonita Companys record of transactions for the month of April was as follows. Purchases Sales April 1 (balance on hand) 780 @ $6.00 April 3
Bonita Companys record of transactions for the month of April was as follows. Purchases Sales April 1 (balance on hand) 780 @ $6.00 April 3 650 @ $10.00 4 1,950 @ 6.08 9 1,820 @ 10.00 8 1,040 @ 6.40 11 780 @ 11.00 13 1,560 @ 6.50 23 1,560 @ 11.00 21 910 @ 6.60 27 1,170 @ 12.00 29 650 @ 6.79 5,980 6,890
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 | $ | $ |
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