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Bramble Companys record of transactions concerning part X for the month of April was as follows. Purchases Sales April 1 (balance on hand) 330 @
Bramble Companys record of transactions concerning part X for the month of April was as follows.
Purchases | Sales | ||||||||
April 1 | (balance on hand) | 330 | @ | $6.40 | April 5 | 530 | |||
4 | 630 | @ | 6.50 | 12 | 430 | ||||
11 | 530 | @ | 6.80 | 27 | 1,260 | ||||
18 | 430 | @ | 6.80 | 28 | 150 | ||||
26 | 830 | @ | 7.20 | ||||||
30 | 430 | @ | 7.40 |
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? (Round average cost per unit to 4 decimal places, e.g. 2.7621 and final answers to 0 decimal places, e.g. 6,548.)
Bramble Company's record of transactions concerning part X for the month of April was as follows. Purchases April 1 (balance on hand) 4 @ 430 Sales April 5 530 12 27 1,260 28 150 11 330 630 530 430 830 430 @ $6.40 6.50 6.80 6.80 7.20 7.40 @ 18 26 30 @ @ (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 $ 6.8846 eTextbook and Media Attempts: 2 of 5 used Question Part Score 1.95/1.95 (a2) Your answer is 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, eg. 6,548.) (1) FIFO (2) LIFO (3) Average-cost Ending Inventory 5918 $ 5232 $ 5577 eTextbook and Media Attempts: 1 of 5 used Question Part Score 6/6 (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 under (1) FIFO, (2) LIFO and (3) Average-cost? (Round average cost per unit to 4 decimal places, eg. 2.7621 and final answers to decimal places, eg. 6,548.) (1) FIFO (2) LIFO (3) Average-cost Ending Inventory $ $ $ $ e Textbook and Media Save for Later Attempts: 0 of 5 used Submit Answer Question Part Score --/9Step by Step Solution
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